According to a ZipRecruiter survey of new hires, laid off tech workers are quickly finding new jobs. About 79% of tech workers recently laid off or terminated landed a new job within three months of starting a job search. But this is lower than all laid off workers surveyed (across more industries than just tech) seeking employment within the same time period.
Still, the survey results are encouraging for many tech workers who recently have been let go from top companies as part of “refocusing”, “sharpening”, and “efficiency” seeking CEOs across Silicon Valley.
Amazon and Meta are among the top tech companies laying off or freezing hires. Twitter also significantly reduced its headcount after Elon Musk’s takeover of the microblogging social platform in October.
Nearly four in 10 previously laid off tech workers found jobs in less than a month, according to ZipRecruiter.
ZipRecruiter chief economist Julia Pollak stated to the Wall Street Journal that tech workers are “still the most sought-after workers with the most in-demand skills.”
Yet, job openings across “big tech” conglomerates such as Google, Meta, Amazon and others are slowing as broader economy constraints, high inflation, and rising interest rates affect the market.
It’s still a job hunter’s market
Despite hiring freezes and layoffs in tech, it’s still a job hunter’s market. If you’re searching for new jobs, employers and recruiters are responding quickly to candidates for fear of losing them in a highly competitive market.
Nine of 10 ZipRecruiter survey respondents said that they heard back from a recruiter or hiring manager within a week of applying for a job.
And despite the pullback on headcount and job postings holistically—job postings still remain “well above pre-pandemic levels”, according to Indeed.
Scott Doborski, Indeed career expert, believes there is still a strong, “healthy” labor market for tech workers. “A lot of bright spots for tech workers currently lie outside of traditional tech companies,” said Doborski.
Tech talent is moving into non-traditional companies outside of Silicon Valley. Raytheon Technologies, headquartered in Arlington, Virginia, is seeing an uptick in the interest in tech talent from recently laid off tech workers.
For a look at some of the top cybersecurity career roles in 2023, take a look at our in-depth analysis.
Disclaimer: The author of this article is a current employee of Google. This article does not represent the views or opinions of his employer and is not meant to be an official statement for Google, or Google Cloud.
