Chris Golding’s Post

If you've been laid off from a tech job, you know all too well you're not alone. As reported by #washingtonpost, tech layoffs have gone from being a sign of business weakness for a company to a sign of strength, that it shows the company is being diligent. This quote from the article, from Mark Zandi, chief economist at Moody's Analytics, says it all: “That is the way the American capitalist system works. It’s ruthless when it gets down to striving for profitability and creating wealth. It redirects resources very rapidly from one place to another.” Employees are just resources that have a cost. People are simply a line on a spreadsheet. Loyalty is in one direction only. Keep close tabs on your personal finances and know what you'll do if/when the axe falls. Know what your plan B (and C) will be. Take care of yourself and those you love. That's what matters. #layoffs #tech #jobs

🚨Are you feeling the impact of the recent wave of tech industry layoffs? It's been a tough cycle to witness! Companies hiring in abundance back in 2021, only to find themselves scaling back just two years later. Over 260,000 tech workers were affected by layoffs last year alone, even amidst a thriving job market in other sectors. Amidst the chaos, there's a silver lining: #SkillsBasedHiring is gaining traction, opening up new opportunities for those willing to learn and adapt. The economic landscape, coupled with inflation, has put immense pressure on companies to tighten their belts and focus on profitability. So how do you navigate these turbulent waters and come out stronger on the other side? I've found an insightful article that dives deep into this topic, offering valuable insights and practical advice. Check it out below and let's weather this storm together! #TechIndustry #Layoffs #CareerAdvice #Adaptability #Resilience #FutureOfWork

True post and big time trending. Readiness for a job search at all times is now important. This is a key reason why resources like the ones at Job Seeker Pro are so important. Job Seeker Pro <follow it #jobseeker #jobseekers #jobsearchadvice #jobsearchtips

"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

It seems the massive growth in jobs and salaries caused by the big Covid-fueled ramp up has come to a screeching halt. Business Insider has provided this excellent article that reflects the writing on the wall, tech companies are laying off workers because they don't need them any more. Many tech companies are laying-off despite not being in financial trouble. The lay-offs are caused by adjustments, realignments, or restructuring. There are still many jobs out there, but the perks and benefits may be very, very different. Stay tuned! #tech #techjobs #layoffs #layoffsandjobreductions #opportunities

Here’s some advice: Just like negotiating your salary and benefits, you can also negotiate your severance. Being impacted by a layoff is hard. Here are some actionable steps that’ll make it a little less overwhelming. https://bit.ly/3KvGhoH #Layoffs #CareerAdvice #TechIndustry

Last year, tech companies laid off more than 260,000 workers according to layoff tracker Layoffs.fyi, cuts that executives mostly blamed on “over-hiring” during the pandemic and high interest rates making it harder to invest in new business ventures. But as those layoffs have dragged into 2024 despite stabilizing interest rates and a booming job market in other industries, the tech #workforce is feeling despondent and confused. https://lnkd.in/g7_iJXhx

Challenger data cited via Forbes, “Layoffs Mount Amid Eye-Popping Jobs Numbers, Make Meetings More Productive And More” by Jena McGregor. Layoffs in January hit a 10-month high as companies in the tech, finance and media industries slashed jobs, according to a report from Challenger, Gray & Christmas. https://bit.ly/3HY9vv6 #JobCutsReport #EmploymentTrends #USJobMarket #Q1Analysis #EconomicOutlook #HiringProcess #JobMarketInsights #2024JobCuts #ChallengerReport #jobcuts #layoffs2024 #layoffs #layoffsandjobreductions

Challenger data cited via Forbes, “Layoffs Mount Amid Eye-Popping Jobs Numbers, Make Meetings More Productive And More” by Jena McGregor. Layoffs in January hit a 10-month high as companies in the tech, finance and media industries slashed jobs, according to a report from Challenger, Gray & Christmas. https://bit.ly/3HY9vv6 #JobCutsReport #EmploymentTrends #USJobMarket #Q1Analysis #EconomicOutlook #HiringProcess #JobMarketInsights #2024JobCuts #ChallengerReport #jobcuts #layoffs2024 #layoffs #layoffsandjobreductions

Last year, tech companies laid off more than 260,000 workers according to layoff tracker Layoffs.fyi, cuts that executives mostly blamed on “over-hiring” during the pandemic and high interest rates making it harder to invest in new business ventures. But as those layoffs have dragged into 2024 despite stabilizing interest rates and a booming job market in other industries, the tech #workforce is feeling despondent and confused. https://lnkd.in/g7_iJXhx