Tech Job Opportunities Remain Strong Despite Layoffs — Heres Why
Reading traditional media reports on the current state of the technology industry, one might assume that the industry is sinking into an abyss of complexity.
But the truth is a little more nuanced. While sites like Layoffs.fyi, which track tech layoffs, report that 616 tech companies cut 184,101 jobs this year, those cuts need to be seen in a broader context.
Gartner CEO Mbula Schoen said in a recent blog post, "Gartner research shows the companies behind the top 10 biggest tech talent cuts are still hiring a combined 150,000 more than they did in early 2020."
Without disregarding the impact on those who lose their jobs, layoffs are not caused by failed companies.
Rather, they are being driven by a range of factors, including additional hiring and related adjustments during the pandemic, broader economic factors, inflation and higher interest rates, and cost cutting.
Jeffrey Pfeffer, a professor at the Stanford Graduate School of Business, also says that "transplantation is essentially an example of social contagion, where companies mimic what others are doing."
Adding to the mud is the fact that many of the redundant roles are non-technical in nature, such as: B. Coding, machine learning or data science work.
"Contrary to what we've seen in the articles, many of the layoffs are in business roles, not technology roles," Schoen said.
Roger Lee, founder of Layoffs.fyi, agrees. “Sales is the most common role that fires 20% of technicians. Recruitment and HR are the functions with the greatest disproportionate impact relative to their size; It's becoming more common for companies to shed 50% or more of their talent teams.”
As a result, we find ourselves in an environment where thousands of people are losing their jobs in tech companies, but employers are facing a talent crisis. Difficulty fulfilling certain roles.
A recent survey of laid-off workers confirms these claims. It was noted that those who were made redundant were quickly hired. Approximately 79% of employees started their new job within three months of beginning their search for a recent layoff or layoff at a tech company.
In another 2022 study, Gartner confirmed that there is a talent shortage, with 86% of CIOs saying they face increased competition for qualified candidates and 73% fearing losing IT talent.
As the job market just doesn't have a large pool of technical talent, skills like web development, DevOps and database software are therefore in high demand. Statistic: These skills are closely followed by AI and ML, mobile development, cloud computing, and UI/UX.
In its 2021 needs analysis report, the European Software Skills Alliance (ESSA) said: . and more developers. Part of a regular organization, not a separate entity. Therefore, soft skills and business knowledge for the management of developers are becoming increasingly important.”
ESSA also identified skills gaps in data analysis and said the key areas impacting software skills are artificial intelligence, big data, Industry 4.0 and modelling, particularly in research.
If you are in the data market, RevoData BV in Amsterdam is looking for an exceptional data revolutionary to work as part of a highly talented, digitally native team, developing the company's data and AI. Revolutionary data and AI solutions with DataBricks.
Also interesting is Java Full Stack Developer for Industry X at Accenture Berlin. This digital transformation role is ideal for someone experienced in complex design and implementation of high quality software solutions, including JavaScript and Java.
Artificial intelligence also requires more talent. Augmented and virtual reality (AR/VR) capabilities are particularly in demand, according to Internet of Things companies Metaverse and Industry 4.0.
Those with machine learning skills should check out this role at Apple in Berlin. The Machine Learning High Performance C++ Software Engineer will work on complex computer vision problems that require robust, efficient, well-tested and clean solutions.
A whole new breed of startups is set to create more jobs. In what could be a sign of major layoffs in the tech space, startup accelerator Y Combinator said applications grew 20% in 2022, receiving more than 38,000 applications. That means exciting new career opportunities are on the horizon.
