5 Ways To Know Layoffs Are Coming, And What To Do About It
By now, you’ll know all about tech layoffs. After all, they have been hard to ignore, with acres of coverage devoted to job cuts since the spring of last year. In 2022, 1,045 tech companies made 160,097staff redundant, and the picture is no happier so far this year: already, 105,514 employees have been laid off, according to layoffs.fyi.
The issue has arisen from the fact that many companies over-hired during the pandemic. More workers were needed to support a rise in sales across hardware and software that were a knock-on thanks to the shift in home working. Additionally, ecommerce saw an uptick as physical shops closed.
Now, revenues have slowed––plus there are wider macro-economic factors to contend with too. Given this context, it is not surprising that in February alone, PayPal, Splunk, Dell, Zoom and Yahoo are just some of the companies that have announced job layoffs.
So how can you predict if a pink slip is coming your way?
1. You work in a vulnerable job
While plenty of tech jobs have been shed, Layoff.fyi’s founder Roger Lee says two main departments are experiencing redundancies at a higher level than everyone else, and those are sales and recruiting as well as human resources.
So, if you’re working in a technical function, you’re not immune, but you’re likely to be more insulated. Plus, a lack of experienced tech talent means companies have been raising salaries for IT professionals, with predictions estimating that raises could jump 8% this year.
2. Things feel off
Are you finding it hard to get a direct answer out of your line manager about layoffs? Has a hush descended over the office, or have you noticed a surge in meetings among senior stakeholders?
All these things can mean that plans are afoot, and they will always start at C-suite level. If the general atmosphere is off and no one is telling you anything, it may be time to polish your resume.
3. Revenue is down
Another key indicator that layoffs are en route is if your company has announced big losses or has lost a high-revenue customer. If previously standard perks were cut, such as free lunches, gym passes or office snacks, then that’s a clear sign of belt-tightening.
4. Hiring has stopped
Check to see if your employer is still hiring. Many tech companies had hundreds of open roles available over the past couple of years, but if your company careers pages are suddenly looking a little sparse, warning bells should sound. All companies experience employee churn, but if people who leave aren’t being replaced, then take it as a sign.
5. Your work is being reassigned
Red flag alert: if projects that would have normally come to you are being assigned elsewhere or you’re noticing a drop-off in your workload due to tasks and priorities being taken off your plate, it may be a sign that your role is about to be made redundant.
If you’ve noticed several of the above, then it’s time to start thinking about next steps. Edit and update your resume, reach out to your wider network and finesse your professional social media profile, indicating that you’re open to being hired.
Another essential step is to see what job opportunities are out there: the Techwire Asia Job Board should be your first port of call. Discover three great open roles below.
Cloud Developer, Adobe, Lehi
Adobe is hiring a Cloud Developer who will design, build, and operate an extensive data transformation pipeline capable of efficiently ingesting and allocating billions of data points to sophisticated business hierarchies and financial models daily. You’ll need engineering experience, and will have completed a computer science degree or have equivalent experience crafting backend systems within a team. Familiarity with Agile development methodologies, CI/CD pipelines, version control strategies, containerization, microservices, unit tests, and API creation and interaction are also necessary. Get full information here.
Technical Support Engineer, Coupa Software, Reno
Coupa is hiring a Technical Support Engineer to provide second level techno-functional support on Coupa’s enterprise solution. You’ll develop an understanding of how customers do business and what role Coupa’s products play in that business. Proficiently handling customer issues and gathering and recording detailed information to assist in problem identification and resolution, is also vital. You will be a fast learner, self-motivated, and able to work in a fast-paced environment with at least seven years’ of enterprise support experience, have a technical background in Linux, Unix and other operating systems and be skilled in using XML, HTML and other web technologies. Apply for this position here.
Sr Software Engineer, Data Platform, Autodesk, San Francisco
Autodesk’s is seeking a passionate Senior Software Engineer to join a team of diverse, smart, and driven engineers who are responsible for building a large-scale streaming platform to support near-real time ingestion of product data. You will need a BS or MS in computer science or a related technical field, five years’ of software engineering experience and experience writing performant code in Java or Python. See the full job description.
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