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What’s the deal with all the tech layoffs?
It seems like lately there’s been a technology company announcing layoffs almost every day. The reasons can be hard to pinpoint, but they may be the result a decline in the market for the company's goods or services, a change in the sector itself, or financial difficulties.
Layoffs are a cost-cutting strategy, but they often result in the loss of key personnel and expertise. A layoff can negatively affect morale and productivity among employees and the firm as a whole. As for those who’ve been laid-off, some will be able to find new employment in tech or in other areas, but for those who are highly specialized, or in a specialized field, it can be tough to move forward.
Are these layoffs different from those in the past?
Layoffs in the IT sector have become more common in recent years, following prior economic downturn trends. The business schools have historically helped students get jobs in a competitive employment market, however, the current situation of the economy has led to downfall in the demand for recent graduates. As a result, if you’re a recent graduate, you may find the job market challenging to navigate.
How should approach your job search in this environment?
You should be proactive in your job search and be open to a variety of career opportunities in order to succeed in today's labor market. Networking and creating connections with specialists in the field will give you an advantage. Be ready to compete for jobs and be adaptable in terms of pay and location. You should also have a significant internet presence and a proper power supply to place yourself ahead of the competition.
Does this mean we won’t be seeing the next big thing in tech coming anytime soon?
It’s true that creation and release of new goods and services could be impacted by the recent layoffs in the technology sector since businesses may be more cautious when making investments and investing in research and development. However, layoffs do not always indicate a lack of innovation in the sector.
Startups and smaller businesses may occasionally replace more established ones as the industry's chief innovators. The technology sector is also ever evolving and dynamic, so businesses that can pivot to new opportunities and trends may still be able to create and market novel goods and services. It's also important to note that certain tech companies may be terminating personnel as a result.
The bottom line for you if you’re looking for a great job in tech, is to hold steady, build your resume, maintain a strong internet presence, and stay flexible. The jobs are there and you just need to find the right one for you!
About the Author
Dr. Al Ajrawi is a highly accomplished engineer and educator in the field of Electrical and Computer Engineering. She holds a Ph.D. from the University of San Diego and San Diego State University, where she earned her degree in March 2021. Before that, she received her M.S. from the New York Institute of Technology University in 2009 and her Bachelor's degree from the University of Technology in 2005.
With a wealth of experience in teaching and research, Dr. Al Ajrawi has held a number of prominent positions in the field. She has been a core faculty member at John Wiley publishing company and an assistant professor at Alliant International University. Additionally, she has served as a lecturer at San Diego State University since 2018 and has held numerous other teaching positions over the years, including full-time positions at Coleman University and adjunct faculty positions at San Diego State University, University of California San Diego, University of San Diego, University of North Texas, Carnegie Mellon University, MiraCosta College, Grossmont College, and Miramar College.