The last quarter of the calendar year 2022 witnessed massive layoffs of large magnitude across the globe, especially in the tech industry.
Global tech giants like Apple, Google and Amazon fired a lot of people, cutting their employee pools to save up on costs, given high inflation and recessionary pressures looming around.
However, as per a survey conducted by the American employment marketplace for job seekers and employers, ZipRecruiter, almost 80% of the employees laid off from the tech industry managed to find a new job within 3 months of job hunt.
“Despite the widespread layoffs, hiring freezes, and cost-cutting taking place in tech, many tech workers are finding reemployment remarkably quickly,” said the chief economist of ZipRecruiter, Julia Pollak to Wall Street Journal.
The survey conducted by the American agency showed that almost four in 10 employees of the tech pool, trimmed by giants across the globe, found jobs in other companies within a month’s time.
Almost 79% of such fired folks managed to find new jobs in other tech companies within three months’ time.
The survey report also mentioned that about 5% of the tech workers who were fired earlier in 2022, found jobs after a long hunt of 6 months from April to October.
Compared to this census, nearly 26% of the tech employees hired from August 2021 to February 2022 took 6 months to find jobs.
“Thousands lost jobs amid deepening funding winter in 2022 as massive layoffs by the tech companies this year alone surpassed the levels from the Great Recession the world went through in 2008-2009 that began with Lehman Brothers collapse,” stated the report.
According to a tally produced by Crunchbase, over 91,000 employees lost their jobs in the US tech sector in the massive job cut of the winter of 2022.
Reports suggest that major tech companies like Google and Amazon plan to fire more employees in early 2023. In Indian edtech companies like Unacademy, Byju’s and Vedantu, over 17,000 employees were fired.
