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Mass layoffs and hiring freezes: Tech workers report huge drop in confidence in job security
Just 9% of tech workers are feeling confident in their job security, according to a June survey from Blind, the anonymous professional networking site.
No doubt, job-market fears are being fueled by months of headlines about hiring freezes, job offers being rescinded and mass layoffs from burgeoning upstarts and tech giants alike, including Robinhood and Oracle just this week.
More than 32,000 people have been laid off from the U.S. tech sector in 2022, according to Crunchbase data.
Today’s lack of confidence in the job market marks a 180-degree shift from just months ago, says Rick Chen, head of PR for Blind. Back in March, some 80% of tech workers were confident in the job market and were considering looking for a new job.
Layoff news is making tech workers across several industries feel skittish, especially those in e-commerce, real estate and businesses tied closely to the stock market, which saw a boom during Covid recovery in 2021 but massive volatility in today’s economy.
Workers are taking their concerns online, Chen says: Discussions of hiring freezes and layoffs doubled in the first quarter of 2022 compared with 2021, while discussions including the term “recession” have increased 15-fold.
Contact Us For Recession
Everything you need to know about tech layoffs and hiring slowdowns
What goes up must come down.
High-flying startups with record valuations, huge hiring goals and ambitious expansion plans are now announcing hiring slowdowns, freezes and in some cases widespread layoffs. It’s the dot-com bust all over again — this time, without the cute sock puppet and in the midst of a global pandemic we just can’t seem to shake.
We will Protect Your Job in a Recession
In a troubled economy, job eliminations and hiring freezes seem almost routine, but when your own company’s woes start to make headlines, it all hits home. Intellectually, you understand that downsizing isn’t personal; it’s just a law of commerce, but your heart sinks at the prospect of losing your position. While you know that passivity is a mistake, it’s hard to be proactive when your boss’s door is always closed, new projects are put on hold, and your direct reports look to you for reassurance. Don’t panic. Even though layoff decisions may be beyond your control, there’s plenty you can do.
we helped so many candidate we helped so many candidate in this period
Minimum Margins
We keep minimum margins for what the client actually pays for your service
Career Planning
We have many clients that look for different skill sets and you can apply your hard earned money towards accelling your career
Full Transparency
For what the employer pays for you compared to what you get paid For what the employer pays
Bench Marketing
Before your current project get’s over, our recruiters will work hard to find you your next assignment
Health/ Dental/ Vision Benefits
You control the different packages of Health benefits You control the different packages of Health benefits
Dedicate Legal Support
We do not believe in holding the employees at ransom just because our name shows up as an employer in your visa documents
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