Are we hitting the bottom yet? Tech job losses in the Bay Area have decreased, with a 3.9% decline in jobs the year ending March 2024, compared to a 5.2% decline in 2023. However, the trend of Bay Area tech layoffs continues into 2024 with 11,000 jobs lost in the first three months. https://lnkd.in/dhNYNKK4 #hiring #jobs #layoffs #tech #BayArea
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Business Development | Customer Success | Contract Recruiter for Tech Startups & Companies | Strategies | Marketing | Startup Advisor | Entrepreneur
191,000 tech worker layoffs in the U.S. alone in 2023 - Not Anymore! Here's why 2024 will be different for the #Talent industry. The recent news of layoffs in the tech industry has many people feeling uneasy. A Crunchbase article shows this to be a widespread trend, with reports of over 191,000 tech worker layoffs in the U.S. alone in 2023. However, the tech sector is still a major job creator, and the job market is expected to rebound by mid-2024. Since Companies are becoming more cautious in the face of a changing economy, and streamlining operations is a major priority, I strongly believe we'll see a rise in contract hiring. According to a recent study by Talent Insights, contract hiring offers several advantages for both companies and workers. Companies can bring in skilled professionals for specific projects without the commitment of a full-time employee. This allows for greater flexibility and agility, which is crucial in today's fast-paced environment. For workers, contract positions can provide an opportunity to gain valuable experience and develop new skills. They also offer the freedom and variety that many people crave. I'm a strong believer in the potential of contract hiring to reshape the tech industry in 2024. It's a win-win situation for companies and workers alike. What are your thoughts on the future of work in the tech sector? Let's discuss in the comments below! #tech #layoffs #contracting #futureofwork #hiring #contracthiring #startups https://lnkd.in/eGb9e6hb
Tech Layoffs: US Companies With Job Cuts In and 2023 and 2024
news.crunchbase.com
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The Canadian Tech Industry and the Rise of Contract #Hiring The recent news of layoffs in the tech industry has many people feeling uneasy. While it's true that some companies have downsized, it's important to remember that this follows a period of immense growth. The tech sector is still a major job creator, and the job market is expected to rebound by mid-2024. However, the landscape is undoubtedly shifting. Companies are becoming more cautious in the face of a changing economy, and streamlining operations is a major priority. This is where I believe we'll see a rise in contract hiring. Why Contract Hiring Makes Sense in Today's Market Contract hiring offers several advantages for both companies and workers. Companies can bring in skilled professionals for specific projects without the commitment of a full-time employee. This allows for greater flexibility and agility, which is crucial in today's fast-paced environment. For workers, contract positions can provide an opportunity to gain valuable experience and develop new skills. They also offer the freedom and variety that many people crave. We are a strong believer in the potential of contract hiring to reshape the tech industry in 2024. It's a win-win situation for companies and workers alike. What are your thoughts on the future of work in the tech sector? Let's discuss this in the comments below! #tech #layoffs #contracting #futureofwork #startups https://lnkd.in/eaDzQ_pA
Tech industry expecting more layoffs, but say hiring coming too this year
https://toronto.citynews.ca
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In the Face of Tech Layoffs — Reskill Now for Career Security According to Global Village Voice, upwards of 60,000 tech position have faced layoffs so far this year. And in their words, "In light of the layoffs, there is a growing need for employees to reskill and adapt to the changing demands of the industry. As companies restructure and prioritize certain areas of their business, employees who can acquire new skills or pivot their expertise may have a better chance of securing employment. It underscores the importance of continuous learning and professional development in the tech industry." ➡ When it comes to reskilling and continuous learning, we couldn't agree more ... it is our purpose for being. 👉 Read the article: https://lnkd.in/eBwsUbs4 #Tech #Layoff #Reskilling #ContinuousLearning
Tech Layoff Wave Continues: Over 60,000 Job Cuts in 2024 by Major Companies
https://www.globalvillagespace.com/tech
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Survey: Oklahoma businesses plan more layoffs in 2024 Tech industry workers continue to be hard hit by job losses with companies laying off more than 124,000 employees so far in 2024, according to Layoffs.fyi. But they aren’t the only ones. https://buff.ly/4earA7u Find more Hiring, Layoff & Job Market Trends at Remote Jobs In HR - buff.ly/4db4TPw #Hiring #Layoffs #HiringTrends #HumanResources #JobOpening #Recruiting #TalentManagement #CareerOpportunities #EmploymentTrends #WorkforcePlanning #Unemployment #Jobs #Business #JobCuts #Economy #JobSearch #EmploymentLaw #JobMarketJobSearch #EmploymentLaw
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Executive Coach | Career Coach | Strategic Advisor | Transformation | Growth | Change Management
"Stanford business professor Jeffrey Pfeffer has called the phenomenon of companies in one industry mimicking each others' employee terminations "copycat layoffs." As he explained it: "Tech industry layoffs are basically an instance of social contagion, in which companies imitate what others are doing." Layoffs, in other words, are contagious. Pfeffer, who is an expert on organizational behavior, says that when one major tech company downsizes staff, the board of a competing company may start to question why their executives are not doing the same." The same happened with the Great Migration, Quiet Quitting, etc., and other trends. Their stock increases when they do this, and the social contagion shapes the economy. It is our "Don't Look Up Moment" with the economy. #careers #layoffs
Nearly 25,000 tech workers were laid off in the first weeks of 2024. Why is that?
npr.org
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10+ years of experience specializing in placing top-tier IT, engineering, and technical talent at Aerospace, Defense, Manufacturing, Software Development, SaaS, Healthcare, Education and Finance companies.
Addressing 2024’s tech hiring hurdles, post 2023.......... 😟 🤔 It is no secret that 2023 was a struggle for many of the approximately over 250,000 people affected by the tech layoffs. Personally, as an IT/Technical Recruiter, there was a noticeable change in the market. There was an abundance of highly qualified talent with an obvious halt in hiring across many different industries. I would constantly speak with candidates daily who were affected by these layoffs and were struggling to find employment, some of whom I know are still seeking work to this day, while others were forced to take massive pay cuts in order to ensure their bills were paid for themselves and their families. Following the turbulent job market of 2023, what are some thoughts on the differences in the market now that we are nearly halfway into 2024? Are we seeing any improvements? I would love to hear your thoughts in the comments!❓📫 👇 #tech #techlayoffs #recruiting #jobmarket #techhiring #hiringtrends #techrecruiting #IT #technews #ITjobs
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Accelerating the hiring process for technology leaders by serving as a trusted talent partner and advisor | Founder + CEO of Tier4 Group, a 6x Inc. 5000 Company | LinkedIn Top Voice | 2024 Inc. Female Founder Honoree
"Weird" and "odd" - two words used to describe hiring in 2023. 🙄 We are very fortune at Tier4 Group that we grew by almost 20% YOY. Based on the newsletters I read and the headlines I continue to see about other agencies both large and small closing doors, doing layoffs, or experiencing double digit negative growth, I consider us in the vast minority (a testament to our client relationships and our awesome team). And as tech layoffs continue in early 2024, I'm here to offer some hope, and some advice, for jobseekers in this market based on our own data. Not even two thirds of the way through Q1 2024, we've seen our job volume increase over 34% from the entirety of Q4 2023. 📈 The mix of contract positions versus permanent positions is 3:1, so for those finding themselves affected by layoffs, I urge you to consider looking at a long term contract. You could be top of mind when those FTE budgets open back up as the year continues. Contracting is a great way to gain experience with milestone projects and gives an opportunity for both you and the organization to "try before you buy". And we have seen that less than 1/4 of all our roles have stayed fully remote as we head into the new year. "Return to office" is a real thing, although 2 days per week seems to be the magic number (and in cities like Atlanta, it makes a longer commute much more bearable and opens up employment options). If you find yourself looking for new opportunities in 2024, whether through layoff or career advancement, I encourage you to check out our available jobs listed below in the comments and to follow Tier4 Group on LinkedIn to view postings in real time. Here's hoping the momentum we are seeing in Q1 2024 continues throughout the year! ☀ #tier4group #technologyrecruitment #techlayoffs #techcareers #talentacquisition #softwarejobs #cybersecurityjobs #datajobs #infrastructurejobs
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Check out the post below prepared by our CEO, Dmitry, addressing a pressing issue in the USA IT sector regarding uncontrolled hiring during the COVID period and its resulting consequences.
Hello everyone, I want to bring up the topic of uncontrolled hiring that occurred during the COVID times and what is happening now. By the second half of 2022, tech companies had initiated significant layoffs -- something that had followed an extended period of frenzied tech hiring and attention to employee experience. Standard explanations for the cuts were that companies hired too many during the pandemic and they were looking at the specter of a recession in the months ahead. It sounds a lot like the dot-com boom and bust of yore. Not all companies are impacted equally. It’s the ones that hired at an accelerated rate during the boom that seem to be hitting the brakes right now. When much of human activity moved online during the height of the pandemic, tech companies were thriving. Call it the COVID tech bubble. Now we’ve hit the COVID tech bust. The U.S. economy is humming and there are hundreds of thousands of jobs being added every month. In a stunning burst of hiring to start the year, the nation added 353,000 jobs in January, shrugging off the highest interest rates in two decades that have been put in place by the U.S. Federal Reserve in part to cool off hiring and spending. The unemployment rate is hovering at 3.7%, just above a half-century low. Stéphanie Vernik Barker, President of Mondo Staffing at Addison Group, said that during the pandemic, many companies hired too many employees. These recent layoffs, especially in the technology sector, are a correction of this situation. "From 2020 to 2022, everyone took advantage of access to talent, remote opportunities, and access to capital at lower interest rates, leading to a boom in hiring," she said. "Then you face the question: 'Did we invest too much?'" Vernik Barker said she hasn't had to lay off her 200 full-time employees yet, and she's doing everything she can to avoid it, including reassigning employees to other tasks if the return on investment in their current work decreases. You can find statistics on mass layoffs over the past years here: https://lnkd.in/gE2SaPnG How do you think the U.S. IT sector will emerge from this recession?
Major Tech Layoffs in 2024: An Updated Tracker
informationweek.com
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Brenda here. Layoffs happen all the time. Personally, my average time in career transition after layoffs 1-6 was 105 days (about 3.5 months,). Layoff number 7 lasted 264 days, (almost 9 months). Looks like my recent experience was not unique. Learn more about current layoff challenges many face. https://buff.ly/3PyE26Y #layoffs #careerresilience #unemployment
Tech job market remains in flux as layoffs continue
geekwire.com
