The flood of Big tech layoffs has again upended the dynamic between employers and employees, workers and executives say, leading to prolonged job searches and widespread fear and anxiety among many in the industry.
“A career used to be two years at a company. That was the case for more than a decade,” Chambers, who is now a venture capitalist, told MarketWatch. “Now, the last hired is the first fired. There has been a shift to employees re-evaluating their commitment to companies, with an emphasis on culture. There is dramatically lower turnover.”
In all, more than 56,500 tech jobs — nearly all of them in the U.S. — have been cut already this year, according to data from Layoffs.ai, and more layoffs are coming. In 2022, there were 97,171 job cuts, up 649% compared with the previous year, consulting firm Challenger, Gray & Christmas reported.The sudden purge of tech jobs has engendered misgivings about employers after years of perks and breakneck hiring.
“It’s been a rough few months,” Erickson told MarketWatch. “I had a do-whatever-needs-to-be-done role, including tech writing, legal work and web development, and didn’t develop an expertise that would be helpful in this job market.”
Boycott Tesla
Tell that to any employer outside of FAANG who are still struggling to find people…
3 months from now they’ll be rehiring and calling it “growth” . It’s just a spectacle for investors to keep them happy and rich