Zuckerberg, Musk and More Cut Thousands of Jobs – Is a Tech Career Still Feasible?

Mandatory Credit: Photo by Jens Meyer/AP/Shutterstock (10557363ae)Facebook CEO Mark Zuckerberg speaks on the second day of the Munich Security Conference in Munich, GermanySecurity Conference, Munich, Germany - 15 Feb 2020.
Jens Meyer/AP/Shutterstock / Jens Meyer/AP/Shutterstock

The layoffs keep on coming in the tech industry. In the last several months, Twitter announced it was laying off half of its workforce, while Meta and Amazon cut thousands of workers. But some experts say the sector is still strong.

All in all, 465 tech companies have cut their workforce so far in 2023, amounting to 126,057 employees being laid off, according to tech layoff tracking website Layoffs.fyi.

Despite this avalanche of bad news for tech workers, Wired has eported “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.”

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.”

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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 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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