What the Big Tech layoffs mean for your career

A view of the Golden Gate Bridge and San Francisco in the distance. The road on the bridge ahead is partially obscured by cloud, and it is dusk.

Are you a career changer interested in tech? Don’t be put off by the recent layoffs – tech companies are still making money, still hiring and they’re struggling to find talent.

If you’re interested in the tech industry, you might already know about the recent rounds of tech layoffs.

Several tech organisations have made employee roles redundant, with social media, eCommerce and large software development corporations among the worst hit.

Companies like Meta, Snap Inc., Twitter, SAP, Amazon, Google and Microsoft have laid off a collective 70,000 employees worldwide, with some global estimates as high as 300,000. Understandably, this news could cause concern for aspiring tech workers like you.

But there are several good reasons not to abandon your career goals, not the least of which is that companies are still still hiring

What caused the layoffs?

Experts have attributed the tech layoffs to several factors, including COVID, market changes and political events.

When COVID first hit, there was a massive push by tech companies to develop new products to support remote working and staying at home. Companies like Zoom exploded in popularity, while already-popular Amazon saw record success. That meant that they needed to increase their employee count to accommodate growth.

Demand slowed down when things returned to relative normality, and so too did company growth.

Inflation and higher interest rates have had a huge impact on companies globally, making it more expensive to deliver existing products and services. The Russian invasion of Ukraine has also contributed to a slower-growing global economy, with knock-on effects for the tech industry.

Demand for tech talent still exceeds supply

Although the layoffs have been a painful experience for many, as Vox explains: “their numbers aren’t yet enough to put a real dent in the massive tech job market”, and are “less of a bubble bursting and more of a course correction.”

There continue to be several hundred thousand vacancies for tech workers in the UK, Europe and globally.

Like many industries, tech has faced challenges over the past year. And while the trend continues, there are positive signs for the future, with forecasted growth already returning in many areas, including the UK.

Developers and engineers remain consistently in demand, while new opportunities for tech-skilled workers are appearing in smaller tech companies and the finance, healthcare and manufacturing industries.

Most importantly for you and your career, demand for tech talent still significantly exceeds supply.

Getting into tech

There are many routes into tech, but one of the best and quickest ways to start a tech career is by completing an immersive course at CodeClan.

With road-tested training, you’ll quickly grasp important tech skills like software development and data analysis. These courses are a great option for people who have already established a career and are looking for a new direction in tech. Why? Because they provide you with an industry-ready tech education without the need to take years away from work to study.

Image courtesy of Stephen Leonardi.


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