Startups find better access to talent as top tech companies cut jobs, freeze hiring

More than 50,000 tech workers were let go from their jobs in November, according to data collected by the website“Given the tech layoffs and lower hiring by the big-tech companies, folks are looking for smaller tech companies to join,” said Christopher Fong, founder ofIn the absence of the stability that the largest tech companies once offered, workers are looking to startups and midsize companies that offer greater flexibility and, in some case, the opportunity to have a bigger impact.

Bell said the many headlines about job cuts at top companies in the industry played a role as she was considering her options.this year and tumult in the broader economy led to a dramatic drop in venture funding and a complete freezing of the IPO market. “I tried not to think a lot about tech layoffs when interviewing," Bell said. But she admitted, "this is something that’s going to be very important in my job decision process, and I need to make sure the company is in good financial standing and that executives are being pragmatic."Rich Liu was hired as Everlaw's chief revenue officer shortly before Bell joined. Liu previously had the same role at TripActions, a high-valued startup that provides travel software.

“From where I sit, we’re really seeing this market shift could usher in a heyday for startups acquiring top talent, particularly for ones like us that are maturing," Liu said. "It’s been a big-tech talent loss but startups’ gain.” Recruiters told CNBC that the tech job market remains competitive, even if workers are entertaining fewer offers at a time than they were in recent years.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Care startups masquerading as tech companies will flop in 2023: top VCInvestors will stop rewarding digital health startups masquerading as tech companies in 2023, VC Aike Ho predicts VC Aike Ho预测，2023年，投资者将不再奖励伪装成科技公司的数字健康初创公司 Good. hah...$MDX
Source: BusinessInsider - 🏆 729. / 51 Read more »

Worried about the economy? These 5 successful companies were started during the Great RecessionFrom industry disruptors to startups aimed at helping you save money, these five successful startups launched during the Great Recession.
Source: CNBC - 🏆 12. / 72 Read more »

These 16 startups scored the San Francisco and Silicon Valley's biggest venture deals of 2022 - San Francisco Business TimesEven as the number of $100 million megarounds dropped sharply in nationwide, some local startups were still scoring such jumbo-sized deals.
Source: SFBusinessTimes - 🏆 78. / 68 Read more »