John A. Byrne’s Post

2 websites dedicated to tracking layoffs in the tech industry report that tens of thousands of employees have lost their jobs in 2024. Read More: https://hubs.la/Q02GqnKR0 #mba #tech #mbajobs #mbanews #mbadegree #mbastudent #mbaprogram #mbaranking #mbaadmissions #businessschool #businesseducation

😏 💭 A Cynical Take: Looking for a job in tech? Use this comprehensive list of 2024 tech layoffs to build out your target companies/markets. Many of these companies you know and/or work(ed) at. . . 💡 Or use this list as confirmation that it might be time to diversify the job search to other industries. #tech #layoffs #sarcasm #jobsearch #techcrunch

Here's what the reason for so many tech layoffs Job seekers are criticized for flooding the market with unqualified candidates, spurred by the COVID-19 lockdowns, which prompted many to pick up coding as a new skill. The proliferation of online courses and bootcamps, coupled with inflated promises of job opportunities, has led to an oversaturated job market. Tech companies are faulted for indiscriminately hiring during the pandemic-induced demand surge, offering hefty salaries and benefits without sustainable business models. When the market normalized, these companies found themselves overstaffed and financially strained. Countries also share blame, with geopolitical events like Russia's invasion of Ukraine and OPEC+ manipulating oil production contributing to global economic instability and inflation. #layoffs #techlayoffs #layoff2024 Let us know what your thoughts on this are and feel free to share some insights!

Recruitment for Thought 4/29 Good Afternoon Linkedin! We explored an interesting article surrounding how the the Large Tech Companies are losing their "Dream Job" appeal based on widespread layoffs in the tech sector. Over 75,000 job losses in 2024 alone! https://lnkd.in/e8Gm56aV Whether you're a recent grad looking for your first tech gig, or someone who has been in the tech industry for some time, are you feeling and hearing the same surrounding the aura of Large Tech Companies? Also, when the giants start to embark on large layoffs, does that create concern for the tech workforce in general in regards to your job security? Would love to hear anyone's thoughts on how the Corporate Tech Giants of the world and their trends affect everyone else. #RecruitmentforThought #ITRecruitment #layoffs #TechMarket #Tech #OpenDiscussion

#portfolioreview For those who are affected by layoffs, right out of college & unable find a job (US/India/Anywhere else) - please comment your portfolio in this post - I will reply with a bit of feedback which should help you out. Please understand that this is only for those struggling to find employment, not for everyone. I'm sure we can respect people in times of need and help them out! #productdesign

Doom and gloom... the (tech) hiring cycle. The economy and, therefore, the job market usually follow a cycle with ups and downs. The last big down was between 2006 and 2008. The U3 unemployment rate hovered around 9% to 10% for a few months. Currently, we are at about 3.7%. -> These are official numbers, and the real unemployment rate is always higher, but it does not matter when we take the past to assume what could happen in the future. In January alone, tech announced over 21,000 layoffs so far, that's about 840 per day. Annualized for 2024, that looks like 300,000 job cuts in tech. --> Hiring is very low; if you lose your job, it may take many months to find something new, probably for a lower salary and onsite. If we do not see a soft landing and follow what usually happens, the number for the end of the year could be higher, in the worst case above 500,000 for tech alone. Do you have a plan for the not-so-soft landing? Or, do you just hope for the best and ignore the possibility of a layoff? To be clear, nobody knows the future. If we get the promised soft landing, January is just an anomaly and all things are fine.

We are going through one of the most challenging job markets in a generation with too many people chasing too few jobs with approximately 50,000 layoffs in tech this year and an estimated 269,000 layoffs from last year. A lot of people are struggling to find jobs. Tonight, I read a story about a person who took their own life after being unemployed for many months. I can imagine they are not alone. Being unemployed for almost half of 2023, I experienced the darkness and depression from being unemployed myself. If you are at risk and need help, here are phone numbers from around the world to seek help: https://lnkd.in/gRy55jn3 #suicideprevention

*** Layoffs, layoffs, layoffs...*** Just came across this article about the layoffs in 2024 and it's still April. I just wanted to reiterate my commitment with the community: if you have been laid off, this or last year, in tech or not, reach out because I have coaching reduced fees to help you with your career transition. I'm an experienced coach and it will be my pleasure to be part of the solution to this crisis. #layoffs #icanhelp #executivecoaching #letsdothis https://lnkd.in/eA88empb

Layoffs during the week ended July 5, 2024: At least 4,830 U.S. tech sector employees. In 2024: At least 62,002 workers at U.S.-based tech companies have lost their jobs so far in the year. In 2023: More than 191,000 workers in U.S.-based tech companies (or tech companies with a large U.S. workforce) were laid off in mass job cuts. In 2022: More than 93,000 jobs were slashed from public and private tech companies in the U.S.

In the first five weeks of 2024, nearly 33,000 tech workers have been laid off and that is in addition to the 260,000 who were let go in 2023. News media companies (including the LA Times, Wall Street Journal, and Washington Post) have also shed hundreds of employees in the last two months and companies like #Wayfair and #UPS are among them. If you are a seasoned professional in the #US or #Canada with an annual salary of $150K+ and looking to transition because you are no longer in alignment with your employer, visit www.kltracy.com for a free resume review. #careertransition #Careertransitions #Resume #resumes #careerchange #thebigquit #greatresignation #careerwithpurpose #career #outplacement #employment #workplace #workforce #returntowork #layoff #layoffs #quietquitting #unemployment #Google #Microsoft #Meta #Amazon #Spotify #CSuite #goldmansachs #Blackrock #Citi #morganstanley #Boeing #Disney #DocuSign #Walmart #McKinsey #Ericsson #Twitter #Starbucks #QVC #siriusxm #Apple #Starbucks #Lucid #McDonalds #Merck #Lyft #3MersUnite #Intel #Ford #GM #IBM #Telecommunications #tech #AmericanFamily #Pfizer