I recently shared my thoughts with Tara Deschamps for this BNN Bloomberg article on the current state of the tech industry. As we step into 2024, it's evident that some major tech players, including Google, Amazon, Discord, Instagram, and Duolingo, have already made job cuts. However, I want to emphasize that these cuts don't appear to be reaching the same scale as those we witnessed in 2023.
Many companies seem to be streamlining their operations to become more revenue-focused. With advancements in AI and a better understanding of how COVID has shaped our future, these strategic moves to reprioritize make sense. The pandemic led to a surge in tech hiring, but as restrictions eased, we saw the landscape change. Investors tightened their purse strings, and interest rates remained high, forcing tech firms to reassess their strategies. While these layoffs may appear concerning, there's a silver lining for Canadian companies. It's an opportunity to attract top talent that may be more challenging to entice away from larger multinational firms. Canadian innovation has the chance to shine through.
At Toast, we've observed a growing demand for talent in data, AI, machine learning, marketing, and sales roles, indicating a positive trajectory in the tech job market. Companies that were cautious in 2023 are now becoming more bullish, and it's an exciting time for the industry. With that, reach out if you want to chat about your hiring plans for FY24. Take a peek at the article here:
https://lnkd.in/g9i3FTHa.
Thank you VTJ writing an article about us.