Is a Tech Career Still Feasible as Amazon, Meta and More Cut Thousands of Jobs?

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The layoffs keep on coming in the tech industry. In just the last several weeks, Twitter announced it was laying off half of its workforce, Meta cut 11,000 of its workers and Amazon is slashing 10,000 employees. But some experts say the sector is still strong.

See: Why Are So Many Companies Doing Layoffs Before the Holidays?
Find: If Elon Musk Is the Richest Man in the World, How Can Twitter Declare Bankruptcy?

All in all, 795 tech companies have cut their workforce so far in 2022, amounting to 1,221,667 employees being laid off, according to tech layoff tracking website Layoffs.fyi.

Despite this avalanche of bad news for tech workers, Wired reported “the broader outlook for tech workers remains strong. Their skills are still in demand, and their peers have responded to recent cuts with a wave of grassroots support to help laid-off workers find new jobs.”

“These workers are at a huge advantage,” Julia Pollak, chief economist with ZipRecruiter, told Wired. “There is still strong demand for tech talent in a wide range of industries, from government to retail to agriculture. Those industries for the past years have been left in the dust.”

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There are also several initiatives to help laid-off tech workers, such as Day One Ventures’ “Funded, not Fired.”

“Laid off from Twitter, Stripe, Lyft, Affirm, CloudKitchens, etc?  We’ll invest $100k into your startup idea. Time to get to work,” it states on its website. “Over the next month, we’re selecting 20 founders to invest in and support. Whether you have an idea already or not, let’s get to work.”

Read: Jeff Bezos Warns Consumers Halt Big Purchases Ahead of Prolonged Economic Downturn
Learn: 9 Warning Signs That Company Layoffs May Be On the Way

According to the Computing Technology Industry Association (CompTIA), “technology companies and professionals look past current uncertainties and see positive signs for 2023.”

“Even with economic uncertainties and societal issues, the tech industry remains a robust choice for business growth and career advancement, Seth Robinson, vice president, industry research, CompTIA, said in a Nov. 15 press release. “To be sure, there are some negative elements, especially as technology applications reach massive scale and trigger unintended consequences. But there are many positive outcomes and countless more opportunities as technology influences every business and industry.”

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About the Author

Yaël Bizouati-Kennedy is a full-time financial journalist and has written for several publications, including Dow Jones, The Financial Times Group, Bloomberg and Business Insider. She also worked as a vice president/senior content writer for major NYC-based financial companies, including New York Life and MSCI. Yaël is now freelancing and most recently, she co-authored  the book “Blockchain for Medical Research: Accelerating Trust in Healthcare,” with Dr. Sean Manion. (CRC Press, April 2020) She holds two master’s degrees, including one in Journalism from New York University and one in Russian Studies from Université Toulouse-Jean Jaurès, France.
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