InformationWeek’s Post

👀 Total Big Tech Lay off 2023: 224.503 FTE ytd Often the problem is not business slow down, on the contrary, many of the companies that cut have growing turnover (one of all, Linkedin has just announced a new cut of 700 FTEs despite a growing turnover, both ytd and compared to the last quarter). Restructuring, maybe profits below expectations and the macroeconomic situation. What is true is that, as often happens in today's web economy, the challenge is not profitability but rather the absolute lack of visibility. #bigtech #layoffs #2023 https://lnkd.in/deQdTWaK

Facing an uncertain global economy and slowing revenue growth, technology companies have picked up the pace of layoffs in 2023. Here's an updated timeline of notable layoffs, and reasons why Big Tech is in turmoil. #it #informationtechnology #layoff2023 #technologynews #softwaredevelopment #softwareengineering #computerscience #developer #devops #softwarearchitecture #programmer #canada #calgary #toronto #vancouver

There’s been an absolute bloodbath in the tech industry since mid-2022. Many companies, some publicly and some privately, announced waves of layoffs of software engineers, developers, and other closely related IT roles. 𝑨𝒓𝒆 𝒘𝒆 𝒐𝒗𝒆𝒓 𝒕𝒉𝒆 “𝒉𝒖𝒎𝒑”? 𝑪𝒂𝒏 𝒘𝒆 𝒆𝒙𝒑𝒆𝒄𝒕 𝒂 𝒓𝒆𝒃𝒐𝒖𝒏𝒅, 𝒐𝒓 𝒘𝒊𝒍𝒍 𝒘𝒆 𝒄𝒐𝒏𝒕𝒊𝒏𝒖𝒆 𝒕𝒐 𝒔𝒆𝒆 𝒍𝒂𝒚𝒐𝒇𝒇𝒔 𝒊𝒏 2024? The data indicates an uptick in layoffs in 2024 regarding the number of employees laid off, but fewer companies are laying off employees. From what I see in the industry, tighter budgets are affecting everyone. Spending on non-mission-critical tools and features is scrutinized as organizations optimize their operational costs. The same goes for roles that “aren’t critical for production.” Based on what I’m seeing and reading, we’re going to experience darker days before a rebound in the tech industry. However, I believe that the need for skilled workers with a computer science / software engineering background will grow over the long term (2-3 years). There are three main factors - 𝒖𝒏𝒄𝒆𝒓𝒕𝒂𝒊𝒏𝒕𝒚 𝒂𝒃𝒐𝒖𝒕 𝒕𝒉𝒆 𝒊𝒏𝒕𝒆𝒓𝒆𝒔𝒕 𝒓𝒂𝒕𝒆𝒔 / “𝒓𝒆𝒄𝒆𝒔𝒔𝒊𝒐𝒏,” 𝒖𝒏𝒄𝒆𝒓𝒕𝒂𝒊𝒏𝒕𝒚 𝒂𝒃𝒐𝒖𝒕 𝒕𝒉𝒆 𝒑𝒐𝒍𝒊𝒕𝒊𝒄𝒂𝒍 𝒔𝒕𝒂𝒕𝒆 𝒐𝒇 𝒕𝒉𝒆 𝒘𝒐𝒓𝒍𝒅 (𝑼𝑺 2024, 𝒘𝒂𝒓𝒔 𝒊𝒏 𝒎𝒖𝒍𝒕𝒊𝒑𝒍𝒆 𝒛𝒐𝒏𝒆𝒔), 𝒂𝒏𝒅 𝒖𝒏𝒄𝒆𝒓𝒕𝒂𝒊𝒏𝒕𝒚 𝒂𝒓𝒐𝒖𝒏𝒅 𝑨𝑰 𝒕𝒐𝒐𝒍𝒔 𝒂𝒏𝒅 𝒂𝒑𝒑𝒍𝒊𝒄𝒂𝒕𝒊𝒐𝒏𝒔. The current trends indicate a stabilization of the interest rates by mid-2024. We will most likely be much more certain about the US elections around the same time. AI tools will continue to mature throughout the year… The conflicts “should” stabilize. Top companies continue to hire engineers for various roles. However, the bar has certainly been raised from what it was in 2021… Best of luck to those looking for their next role. #automation #softwareengineering #DevOps

Closing Q1 2024, we assess the tech industry's hiring outlook. Despite initial concerns from job cuts at major companies, viewed as an extension of 2023 trends, signs of recovery are evident. Ongoing layoffs persist, but positive sentiment among leaders suggests an end to mass layoffs as hiring normalizes. To read the full article, please visit here: https://bit.ly/3wSts3Y #techhiring #adtech #saas #hiringtrends #hiringstrategy

2023 was a varying year when it came to Tech Hiring Trends 📈, does 2024 appear to hold a Dual Lens of expectations 🌐💼?... Two particularly critical factors are currently in the spotlight: recent interest rate shifts and the predictions surrounding tech layoffs in 2024. This recent article by The San Francisco Standard sheds light on the anticipated trends in tech layoffs and what Technologist may expect for 2024. It's crucial to navigate these projections with a strategic mindset, understanding the potential impact on career trajectories and organizational dynamics. On the other hand, the concurrent discussion around interest rates brings an additional layer of complexity. As rates undergo adjustments, leveraged businesses, particularly in PE and the tech sector, may experience shifts in funding dynamics, impacting hiring strategies and overall workforce planning. Tech Layoffs in 2024: The article suggests that tech layoffs might be on the horizon again, emphasizing the importance of staying agile and proactive in this dynamic environment. It implies that professionals may benefit from a reassessment of their skill sets and embrace continuous learning to remain competitive in a potentially changing job market that keeps looking stronger on the niche skillset side. Interest Rates and Tech Hiring: Interest rate fluctuations influence the cost of capital for businesses. For the tech industry, known for its innovation and reliance on venture capital, and PE companies known for leveraged buyouts, understanding these changes is pivotal. Companies will need to reassess their financial strategies and hiring plans in response to evolving economic conditions. Strategic Navigation: As professionals, it's imperative to approach these shifts strategically. Evaluate your skill set against industry demands, invest in ongoing learning, and stay informed about economic indicators influencing the tech sector. Organizations should proactively adapt their hiring and talent management strategies, considering the potential dual impact of interest rate changes and the projected trends in tech layoffs. The turn of the year is always an opportune time to consider what steps you could or should be taking to navigate potential changes in the job market and/or hiring landscape. May all find expanded success in the new year! #TechIndustry #HiringTrends #InterestRates #CareerStrategy #TechLayoffs #EconomicOutlook #2024Predictions 🚀📊

Closing Q1 2024, we assess the tech industry's hiring outlook. Despite initial concerns from job cuts at major companies, viewed as an extension of 2023 trends, signs of recovery are evident. Ongoing layoffs persist, but positive sentiment among leaders suggests an end to mass layoffs as hiring normalizes. To read the full article by Grey Matter Recruitment,please visit here: https://bit.ly/3wSts3Y #techhiring #adtech #saas #hiringtrends #hiringstrategy

Source - CTech by Calcalist From the article: "The technology giant Cisco is expected to announce this week an extensive restructuring that will include the layoffs of thousands of employees. The company's quarterly report will only be published on Wednesday, so it is not yet known whether the move is related to weaker than expected performance. But what is known is that it is not the only company taking such steps, and that in other cases prominent technology companies made cuts, to varying extents, even with their revenues and profits on the rise." #Techsector #Layoffs

Downsizing is a concerning trend in the tech industry and I’ve been saddened to hear about various new rounds of lay-offs from large tech companies. Microsoft is the latest high-profile organisation to slash employee numbers joining Amazon, Meta, Google, Twitter and many more culling staff numbers since the beginning of this year. For the MSPs in my community are you reigning in growth plans to avoid turning to job cuts? Or perhaps you’re using this as an opportunity to hire staff from an increasing pool of available talent? Is this unique to “tech giants” or are we seeing this trend in smaller tech too? Interesting article: #layoffs #bigtech #hiring

ech layoffs in 2023: A timeline Facing an uncertain global economy and slowing revenue growth, technology companies have picked up the pace of layoffs in 2023. Here's an updated timeline of notable layoffs, and reasons why Big Tech is in turmoil. Though technology companies announced massive layoffs last year, 2023 has been much worse. Layoffs have far outpaced last year's cuts, as tech giants including Amazon, Cisco, Facebook parent company Meta, Microsoft, Google, IBM, SAP, and Salesforce — as well as many smaller companies — announce sweeping job cuts. https://lnkd.in/dSPAxZge