Tech layoffs are dominating business headlines, especially those coming from tech giants that have experienced immense growth in recent years.
Amazon announced plans to lay off over 10,000 workers in corporate and technology jobs. Meta is laying off 11,000. About half of Twitter’s staff has been let go by Elon Musk’s takeover in a truly unprecedented scenario. Microsoft, Salesforce, Stripe, Lyft, and more. The list goes on.
As 2022 comes to a close, are we seeing the last of the tech layoffs? Probably not. But does this mean that tech workers are not in demand? Or that a large-scale recession is confirmed? Is this bellwether of more industries being impacted?
To answer HR’s burning questions about the recent tech layoffs, we asked Sania Khan, Chief Economist at Eightfold AI, to share her insights on the topic based on her research from the labor market and proprietary Eightfold data.
The good news: It’s not all doom and gloom.
Here’s what Khan said the data reveals about the employability of tech workers and how companies with tech-skills debt can capitalize on this trend. Plus, she shared what the mainstream media isn’t covering about recent tech layoffs. Hint: the gender gap in