Annie Dean’s Post

2 years ago…yup…2 years ago is when the Tech Layoffs starting to gain some steam. 165,000 global tech emloyees lost their job in Tech during 2022 (according to layoffs.fyi) And since then, hundreds of thousands more have been given their pink slip. The hiring frenzy of 2021 was a true mania in every sense of the word. And now….the hangover….which is lasting much longer than most ever anticipated. A common theme I have encountered in speaking with thousands of laid off employees…and one I also felt when laid off in 2020…”how could this happen to me? I was doing *important* work for my employer…” It’s a big blow to one’s ego, TBH. Here’s the harsh reality…no one is irreplaceable. Unless you are in a STEM or similar niche role…you must do everything you can to convince an employer to hire you. You must stand out from the crowd! Recruiting: tens of thousands looking; few open roles. Marketing: tens of thousands looking; few open roles. Product: tens of thousands looking; few open roles. Social Media: tens of thousands looking; few open roles. Admin: tens of thousands looking; few open roles. Finance: tens of thousands looking; few open roles. HR: tens of thousands looking; few open roles. Sales: tens of thousands looking; few open roles. IT: tens of thousands looking; few open roles. Ops: tens of thousands looking; few open roles. Ignore the bear! Get in front of your competition! #ResumeIsKing #KeepPressingForward #AlwaysBeNetworking #UpdateYourLinkedInProfile #Engage #Pivot

🚨 **TL;DR: This Techopedia article dives into the controversial topic of tech layoffs predictions. While some voices in the industry predict doom and gloom with widespread job losses due to automation and economic downturns, others see layoffs as a necessary adjustment for companies to stay competitive and agile. However, amidst the uncertainty, one thing remains clear: the tech landscape is evolving, and both challenges and opportunities lie ahead for professionals in the field. *Key Points:* - Predictions about tech layoffs paint a mixed picture, with some foreseeing significant job losses while others view layoffs as strategic adjustments. - Automation and economic factors are cited as potential drivers of layoffs, but technological advancements also bring new opportunities. - Despite the uncertainty, professionals should stay adaptable and proactive to navigate the evolving tech landscape effectively. 🎙️*My Take:*🎙️ As technology continues to advance, opportunities for innovation and growth abound. While layoffs may be a reality for some, the transformative power of AI and automation presents endless possibilities for professionals to upskill, reskill, and explore new avenues within the tech industry. Embracing these changes with a positive mindset can lead to exciting career trajectories and contribute to shaping a brighter future for the tech workforce. #layoffs #techlayoffs #ai #2024predictions Link: https://lnkd.in/dBSUi8qM

In the industry, one noticeable trend is the occurrence of tech layoffs, whether due to redundancy or other reasons. Many people are losing their jobs more often. They change jobs in less than a year or every 2-3 years maximum. Prominent tech companies are adjusting their teams a lot. There isn't much loyalty between employees and employers anymore. Employees need to be careful because a layoff can really damage them, especially if they have a family to support and a job is their primary source of income. Suggestion: Try to make extra money through freelancing or starting a small business with friends/coworkers. Plan your finances for at least 6 months and give it a shot. Have you seen this happening in your tech job? Share your thoughts! #TechJobs #JobChanges #CareerAdvice #softwareengineers #devops @IT #informationtechnology #business

📆 In 2023, the tech industry experienced over 📉 240,000 job losses globally, with major tech companies reducing their workforce. The trend of tech layoffs has continued into 2024, with more than 75,000 layoffs reported so far. Over 📊 270 tech companies have laid off workers this year alone. The layoffs reflect a broader trend in the tech job market, where companies are increasingly relying on AI and automation, leading to a reduced human workforce. However, amidst the layoffs, new job roles and opportunities are emerging. Tech giants such as Tesla, Amazon, Microsoft, Meta, Apple, Cisco, SAP, and Sony have all made significant job cuts. Layoff announcements have escalated, with companies like Cisco Systems, Grammarly, Instacart, and Apple reducing their workforce. While there are concerns about the impact of AI on employment, companies are also exploring the potential of 🦾 AI to handle tasks that previously required significant human effort, leading some to wonder if the current market is actually driven by economic necessity or economic greed. The tech layoffs are expected to continue, with many industries seeking to optimize their staffing levels and align with the needs of the market. Jobs that require human empathy and physical skills, such as healthcare, skilled trades, education, and creative professions, are less likely to be affected by AI. To navigate the changing employment landscape, companies are advised to invest in employee training for AI-related skills and foster a collaborative relationship between technology and human talent. 📲 Download the HeyDevs app for Android/iOS: https://lnkd.in/gH2cqcSG #AI #Automation #JobMarket #TechLayoffs #TechRecruitment

During the past two years' financial crises, we've witnessed a surge in layoffs within the tech industry. Analysis suggests that financial crises occur approximately once every decade, often leading to widespread job cuts. Finding new employment that matches one's previous salary levels during such mass layoffs may take more than a year, if not longer, and severance packages typically only sustain individuals for a few months. If you seek to secure yourself and your family during times of widespread job loss or ensure a certain quality of life when faced with limited job options, please reach out to me. https://lnkd.in/d76qbdiX

As we move into 2024, many companies, including giants like Google and Amazon, are continuing to reduce their workforce. Now, as we return to pre-pandemic employment levels, companies are adjusting to changing consumer behaviors, technological advancements like generative AI, and economic pressures. Layoffs are most prevalent in the tech and financial sectors, with significant job cuts at Microsoft, Salesforce, Meta, and others. Even as these layoffs continue, the overall job market remains strong, with hiring still ongoing in various industries. For those impacted by layoffs or concerned about potential job loss, experts recommend being proactive in preparing for what comes next. This includes preparing for interviews (possibly with AI), and creating strategies to stand out to future employers. Resources and guidance are available in the article to help navigate these challenging times, offering support for those entering the job market again. Danielle Abril points out that despite the current wave of layoffs, the labor market's strength suggests continued opportunities for employment. However, as companies recalibrate their workforces in response to various factors, individuals facing layoffs should take proactive steps to prepare for their next career move. 

After you're laid off, what comes next? For many tech workers, there's no easy answer. Following historic mass layoffs in 2023 and 2024, tech hiring has slowed and the job market looks increasingly bleak. Laid-off employees face an uncertain future. For a road map on how to move on post-layoff, Business Insider spoke to former employees at Google, which cut 6% of its workforce nearly two years ago and has continued making cuts in 2024. Eight ex-Googlers impacted by those layoffs — including one who has since returned to the company — shared what it was like to lose what some considered their "dream job," how they found their footing in the aftermath, and their advice for others facing similar circumstances. Many of the employees Business Insider spoke with said they were caught off guard by their layoff or that they expected only low performers to be impacted. Google said it provided impacted employees with outplacement support and invited them to apply for open roles across the company. Some interviewees told BI they found few openings. Since their layoffs, these former Googlers' paths have varied. One ran for city council; another took a job at Trader Joe's. Some landed jobs at other Big Tech companies, and others launched their own ventures. While many reflected fondly on their time at Google and felt their layoff was a blessing in disguise, others expressed frustration toward Google's leadership. Read their stories, in their own words, here: https://lnkd.in/eBNaWk-y (Credit: Aaron Neyer; Sylvia Duran; Camila Ferraz; Jenny Chang-Rodriguez/BI) #Google #layoffs #careeradvice

2023 was a varying year when it came to Tech Hiring Trends 📈, does 2024 appear to hold a Dual Lens of expectations 🌐💼?... Two particularly critical factors are currently in the spotlight: recent interest rate shifts and the predictions surrounding tech layoffs in 2024. This recent article by The San Francisco Standard sheds light on the anticipated trends in tech layoffs and what Technologist may expect for 2024. It's crucial to navigate these projections with a strategic mindset, understanding the potential impact on career trajectories and organizational dynamics. On the other hand, the concurrent discussion around interest rates brings an additional layer of complexity. As rates undergo adjustments, leveraged businesses, particularly in PE and the tech sector, may experience shifts in funding dynamics, impacting hiring strategies and overall workforce planning. Tech Layoffs in 2024: The article suggests that tech layoffs might be on the horizon again, emphasizing the importance of staying agile and proactive in this dynamic environment. It implies that professionals may benefit from a reassessment of their skill sets and embrace continuous learning to remain competitive in a potentially changing job market that keeps looking stronger on the niche skillset side. Interest Rates and Tech Hiring: Interest rate fluctuations influence the cost of capital for businesses. For the tech industry, known for its innovation and reliance on venture capital, and PE companies known for leveraged buyouts, understanding these changes is pivotal. Companies will need to reassess their financial strategies and hiring plans in response to evolving economic conditions. Strategic Navigation: As professionals, it's imperative to approach these shifts strategically. Evaluate your skill set against industry demands, invest in ongoing learning, and stay informed about economic indicators influencing the tech sector. Organizations should proactively adapt their hiring and talent management strategies, considering the potential dual impact of interest rate changes and the projected trends in tech layoffs. The turn of the year is always an opportune time to consider what steps you could or should be taking to navigate potential changes in the job market and/or hiring landscape. May all find expanded success in the new year! #TechIndustry #HiringTrends #InterestRates #CareerStrategy #TechLayoffs #EconomicOutlook #2024Predictions 🚀📊

WHY ARE BIG TECH COMPANIES LAYING-OFF MILLIONS OF EMPLOYEES IF THE INDUSTRY IS MORE ADVANCED THAN EVER? While translating some world-economics material I noticed this paradox. The tech industry is indeed more advanced than ever, but these advancements can sometimes lead to significant changes in workforce needs. The recent layoffs in big tech companies have been attributed to the following factors: Investment in #AI: Companies are reallocating resources to invest in artificial intelligence, which requires significant #capital for chips and servers; Market Performance: #Layoffs have not negatively impacted stock prices; in some cases, companies have seen their stock prices rise after announcing layoffs; Economic Shifts: The surge in demand for tech products during the pandemic led to aggressive hiring, which is now being scaled back due to a more pessimistic economic outlook and fears of a #recession; Social Contagion: There’s a trend of “#SocialContagion” where companies mimic the actions of others, leading to a wave of layoffs across the industry. LEARN MORE ON: https://lnkd.in/ecKeGQMX medium.com/@jaimecorrea