If you read about the state of the tech industry in traditional media reports, you can be forgiven for assuming that the industry is trembling on the edge of a cliff and about to plunge into an inky abyss.
But the truth is a little more subtle. Sites such as layoffs.fyi, which track tech layoffs, report that about 616 tech companies have laid off 184,101 employees so far this year, but these layoffs are seen in a broader context. should.
Gartner Senior Director Analyst Mbula Schoen said in a recent blog post:
Without reducing the impact this has had on those who have lost their jobs, there have been no layoffs, primarily because businesses are failing.
Rather, it is caused by many factors, including overemployment during the pandemic and adjustments around it, broader economic factors, rising inflation and interest rates, and cost cutting.
Jeffrey Pfeffer, a professor at Stanford University’s Graduate School of Business, also argues that “layoffs are basically examples of social contagion, with companies copying what other companies are doing.”
Further confusing the situation is the fact that many of the redundant roles are non-technical. For example, coding, machine learning, data scientist jobs, etc.
“Contrary to news headlines, many of the employees affected by layoffs are in business rather than technical positions,” says Schoen.
Layoffs.fyi founder Roger Lee agrees. “Sales is the most common role, accounting for 20% of tech workers laid off. Recruiting and HR are the functions that are disproportionately affected relative to their size. Laying off 50% or more of the workforce is becoming very common.”
Layoffs and talent shortages
As a result, thousands of people at technology companies have lost their jobs, leaving employers in an environment facing talent shortages. trying to play a specific role.
A survey of recently laid-off workers reflects this demand. We found that those who were laid off were quickly rehired elsewhere. About 79% of workers recently hired after layoffs or layoffs at tech companies got a new job within three months of initiating their search.
In another 2022 survey, Gartner confirms that a skills shortage exists, with 86% of CIOs saying competition for qualified candidates is increasing, and 73% saying IT talent is lacking. are concerned about the decline in
The pool of technical talent active in the job market is simply small, and as a result there are many in-demand and in-demand skills such as web development, DevOps and database software. Statista. These skills are closely related to AI and ML, mobile development, cloud computing, and UI/UX.
According to the European Software Skills Alliance (ESSA) in its 2021 needs analysis report: Part of a regular organization rather than another entity. Therefore, soft skills and knowledge of the business are becoming increasingly important to enable developers to function. “
ESSA also identified skill gaps in the area of data analytics and said the key areas impacting software skills are AI, Big Data, Industry 4.0, Modeling, especially in research.
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