First, it was Twitter laying off 3,700 of its employees (about 50% of its workforce), a few days later, Meta (Facebook) topped the chart with 11,000 of its employees “laid off” (about 13% of the workforce).
Most of the employees have taken to their social media platforms to express themselves. According to some, “it was an abrupt dismissal without any form of warning or notice”. A LinkedIn user while expressing herself, said “This hit me hard as I’m currently out on maternity leave”.
Meta CEO, Mark Zuckerberg
The reactions on the internet have indeed gone bizarre over these actions taken by two recognizable leaders in the Sector; Mark Zuckerberg (Meta/ Facebook CEO) and Elon Musk (CEO of Tesla, who recently acquired a leading social media platform “Twitter”), leaving many in doubt of what to expect in the coming year 2023. Amongst the skills affected are Software Engineers, Product Managers, Accountants, Program managers and some other managerial personnel, just to mention a few.
Let’s not forget that prior to the Meta and Twitter moves, Stripe, laid off 1000 people (14% of its workforce), Microsoft laid off over 1300 people, Lyft laid off nearly 700 staff (about 13% of its staff), Coinbase about 1,100 laid off (18% of full-time jobs), Shopify 1,000 laid off (about 10% of global employees), Netflix about 450 laid off, and according to sources on the internet, Google is set to join the trail with about 100 recruiters on the line after it has reportedly hit 100 plus employees in the startup incubator and cancelled their projects.
Twitter 3,700 employees, Meta laid off 11,000 employees, Stripe laid off 1000 employees, Microsoft laid off 1,300 employees, Lyft laid off nearly 700 staff, Coinbase about 1,100 employees laid off, Shopify laid off 1,000 employees, Netflix laid off 450 employees; Thousands of people pushed back into the job market.
The job market has always been a competitive space, however with this recent turn of events, what can we really expect to happen in 2023, especially in the Tech Space? Is a Career in Tech still worth it?
I think it’s time to pull your seats close and begin steps towards the “next course of action” especially if you are currently within the Tech space.
Of course, this is not the time to get discouraged or worry about your future prospects. Hopefully, you do not force your mind to believe in the words of people that Tech is congested because it is not, it simply got more competitive. Here are a few things you should know about Tech:
1) Salaries are growing
Tech is a career that pays satisfactorily and clearly supports remote/Hybrid work structures.
The skills are in constant need within the job market and this, in turn, has made employers open to certain remuneration considerations, the layoff won’t end this cycle just yet.
2) Short courses and Internships are valid for Entry-level positions
Check out all the tech job ads you see, while some require you to have gone through undergraduate training in the field; a lot of these roles require only basic knowledge of the role. The basic level is one that can be built through relevant online courses and related internships.
Now to ensure you get your feet at the door and receive a warm embrace to prove yourself, here is a bit of a reminder you should work with:
o Expect Competitions and be ready!
Let’s face facts now, the job market has always been competitive and it’s not going to change so expect it. And to be sure you bypass every form of ATS and give a good first impression; make sure you have a good resume/CV and an outstanding cover letter that clearly highlights your skills and qualifications.
Always remember that there is possibly someone better or more experienced than you for that role, but only the person who sells his skills and relevance better will get the handshake.
o It’s time to Upskill (if you are not already in the process).
Coursera offers Financial aid for almost all courses on the platform, and subscribing to LinkedIn premium, gives automatic access to the Elearning Platform. Udemy can fast track your career growth with targetted courses at a fairly affordable rate, Alison has good courses you can check. These are just a few!
While you enrol and complete the courses, you might want to try building relevance and gaining work experience through internships. Some platforms that offer such are She code, Google, and Alx; just to mention only a few.
o Build Connections
With moves like this expect grouping, regrouping and creative innovations. You certainly won’t get information on relevant outcomes by being “solo”; you hear about them, and even benefit from them through connections. Platforms like LinkedIn, Hackathons, as well as Online communities and Open source platforms, are very professional platforms to build relevant connections.
So spend more time constructing your social media platforms to a professional standard so that you do not loose out on opportunities when they show.
o Support your skill with confidence
Being good at your work does not just settle it, you need to build yourself to the point that the employer fails to see anyone beyond you for that position.
Safe to say that point two, should be a constant act going forward.
Conclusion
Most times in business, when the cost is to be cut, Labour and Marketing will be affected. The reason the lay-off is been felt during this period is that they are all happening at once and from strong contenders within the Tech space.
This definitely gives a bit of a freight though, but shouldn’t take down your passion and interest in Tech. The roles are still there and people will still need to occupy the positions so make it a point of duty to place yourself in that seat.
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