The most impacted roles by current tech layoffs? Product managers and researchers!
Product Analytics Director Bhavik Patel analyzed tech layoffs in a recent article, and I am sharing his findings in the picture below.
The result is not good news for PMs: they're getting fired 2.5 times more than engineers.
Why? The article explains that in times of optimism, companies bet on digital products and overstaffed these roles that would help build the right product: PMs, researchers, and designers. That's for sure a contributing factor.
I believe the real reason is more fundamental: many professionals holding the PM title are not actually product managers and, sooner or later, all chickens come home to roost.
In times of abundance, the PM role became a job where people could easily slip into the comfort zone of middlemen, away from the trenches where real PMs struggle for every piece of customer feedback and every business outcome.
This resulted in too many so-called "PMs" focusing solely on scripting user stories, middleman tasks, playing with frameworks, creating slides with roadmaps, and a variety of other meaningless tasks.
As we all know, this useless breed of PMs does not add any value to a company and, in times of uncertainty, they qualify as the best people to make redundant. Because that's what they've always been all along.
Will you be impacted too? In my view, there are three buckets PMs can be grouped into:
1. You're a real PM, bringing value to your customers and your company: life is smiling at you, you've got nothing to worry about!
2. You're not a real PM, and your company just found out. Bad news, you've got to go. Not only that, but you will have to heavily invest in acquiring those skills that you actually missed, or be ready to do a different job.
3. You're not a real PM, but your company hasn't realized that yet. It might be that finances are thriving, or they are simply happy calling something else a "product manager". Either way, you're saved for now - but how long will it last?
A last caveat on the data: the chart below is the result of actual tech layoff data, manipulated through several assumptions. But these results definitely resonate with what I’ve observed in the past few months while talking to dozens of PMs, product leaders, and founders.
If you want to look at full data, I encourage you to read the article "Analysing Tech Layoffs: Which Roles Were Hit Hardest?", with a big shout out to Bhavik Patel for putting this together.
#productmanagement #layoffs