Tech Layoffs: The Start of a New Beginning
The last few weeks have been challenging for tech workers, and the ripple effects of mass layoffs are having a significant impact across the industry.
While many have been shown the door by SaaS platform Salesforce and social media giants Meta and Twitter, all is not lost. It may even be a blessing in disguise.
With so much change in the air, an increasing number of companies are on the hunt for great talent. And now that many companies are embracing remote work, tech workers have more employment opportunities.
Also, remember that those who haven’t been laid off are almost certainly faced with an increased workload. This can lead to poor work/life balance and feelings of resentment and disenchantment.
Despite all the doom and gloom, US job statistics show that 72,000 new tech jobs are being created monthly. These rates are well ahead of pre-pandemic levels. Workers and employers should both feel great.
Another alternative is to reinvigorate your career and go it alone. Whether that means starting your own business or creating a website to show companies your portfolio is entirely up to you.
The one thing I advise against is panicking. I have been in the industry for 20+ years—I get it. Sudden change like this can be nerve-wracking. Feeling overwhelmed is expected when you suddenly find yourself out of a job, but keeping a level head is essential. Remember, this is only a setback, not the end of your career!
While the number of job losses in the tech startup space is concerning, it is essential to realize that this is not indicative of the entire industry. Instead of joining the rat race and competing with your colleagues, take the reins, run with that long-held idea, and prove yourself on the open market.
Many tech workers will have web development skills, online marketing nouse, and graphic design abilities. These traits come in handy when building a website to exhibit your skills. However, if you feel like you need a helping hand on your path to financial freedom, there are options out there.
I’d be delighted to help you along the way to financial independence using your own skills to get you there.
Google to lay off 12,000 people, memo from CEO Sundar Pichai says (cnbc.com)
Amazon set to begin new round of layoffs affecting over 18,000 people (cnbc.com)
Microsoft is laying off 10,000 employees (cnbc.com)
Wayfair Announces Update to Cost Efficiency Plan and Business Performance | Business Wire
2023 Layoffs: Google Slashes 12,000 Employees While Wayfair Cuts 1,750 (forbes.com)