According to recent reports, tech workers are still in demand and despite big layoffs, unemployment among them is quite low. Read the whole article to learn more about this news piece.
Statements made by people
“These workers are at a huge advantage,” says Julia Pollak, chief economist with ZipRecruiter. “There is still strong demand for tech talent in a wide range of industries, from the government to retail to agriculture. Those industries for the past years have been left in the dust.”
“You have two diverging paths for tech workers,” says Pollak. “One group is taking a flight-to-safety approach and going to companies and industries that are recession-resistant. And another group will throw caution to the wind and take a big risk and start their own companies.”
“There is a general identity of being a tech worker,” says Nataliya Nedzhvetskaya, a grad student researching sociology and employee activism at UC Berkeley and a member of Collective Action in Tech, a volunteer-run project to unite tech workers. “There’s a precedent in this industry for sharing information [and] a culture that values transparency.”
That swell of support is helping some tech workers stay calm even as headlines about layoffs pile up. “There’s a lot of uncertainty, and people are acknowledging that there’s going to be a lot of fluctuation,” says Nedzhvetskaya. Yet while people are understandably anxious about job losses, she says, she doesn’t see a “full-fledged panic.”
Companies that laid off employees
Among the companies that decided to lay off thousands of empliyees comes Twitter , Meta and several other big giants. Twitter did this after Elon Musk took over the company. He fired half of the staff members to reduce the workforce which includes the CEO of the company, Parag Agarwal. Due to economic meltdown, companies are either announcing a hring freeze or laying off employees along with announcing a hiring freeze. Meta, the parent company of Facebook also laid off many employees in order to cut down the losses of the company.Mark Zuckerberg cited his own misreading of the pandemic internet surge in his memo to staff about Meta’s job cuts. “Many people predicted this would be a permanent acceleration that would continue even after the pandemic ended,” he wrote. “I got this wrong, and I take responsibility for that.” Every company is trying to get back on track and earn profits. But still after such laytoffs , there is no lack of jobs for the tech workers. Companies are looking for efficient and skilled workers who can help their company grow.
