Tech Layoffs Are Worrying, But Employees Still Have The Upperhand

Although headlines have suggested that layoffs are imminent, hiring is actually forecasted to remain strong throughout the rest of the year and could provide more employment opportunities than previously thought.  

According to the Bureau of Labor Statistics, talent shortages left 11 million positions open over the past year as the Great Reshuffle continues to take hold of the workforce.   

“We’re actually seeing a robust number of jobs being pushed into our system, our hiring team partners have not let off the gas…” said Dave Fisch, the CEO of Ladders. 

“We really aren’t seeing any slowdown, considering all of those insular issues going on; we’re actually seeing some acceleration.”   

Fisch added that the fourth quarter of each year usually sees a slowdown in hiring as companies plan their strategies for the new year. This paired with the world’s largest technology firms conducting layoffs would suggest that it’s an inopportune time to search for a job — but the opposite is true.  

“Right now the layoffs are concentrated in technology; they’re not very widespread across the economy,” said Sinem Buber, the lead economist for ZipRecruiter.  

Many of the tech employees that have been recently laid off have highly sought-after and transferable skills, giving them the upper hand when looking for new roles.