The First Tech Layoff Wave After Years of Hypergrowth

Author:

El-Deeb Ahmed1

Affiliation:

1. Amazon, Krausenstr. 38, 10117 Berlin, Germany

Abstract

Same month SEN issue published one year ago had this column titled as "The Human Side of the Tech Industry: Key Drivers Behind the Tech Talent Dilemma." It discussed the Tech industry hypergrowth and how the tech industry is challenged in terms of finding talents and closing their hiring needs and deliver their projects; citing this as one of the top risks to delivering the required level of Digitalization projects. One year later from when that issue was published and the Tech Industry has been rocked by a massive layoff movement, with more than 120,000 IT workers have been laid off only in the U.S. This is perplexing. What happened to the Tech talent dilemma? More importantly, how such massive layoffs affects Tech Industry and Software Engineers? This paper surveys key impact points from such wave.

Publisher

Association for Computing Machinery (ACM)

Subject

Pharmacology (medical),Complementary and alternative medicine,Pharmaceutical Science

Reference6 articles.

1. "Tech CEOs All Made the Same Dumb Mistake , Thinking the Pandemic Boom Would Last Forever. Now Employees Are Paying the Price With Massive Layoffs." Business Insider , 9 Nov. 2022 , www.businessinsider.com/meta-layoffs-tech-ceo-pandemic-boomlast- forever-dumb-mistake-2022- 11?international=true&r=US&IR=T. "Tech CEOs All Made the Same Dumb Mistake, Thinking the Pandemic Boom Would Last Forever. Now Employees Are Paying the Price With Massive Layoffs." Business Insider, 9 Nov. 2022, www.businessinsider.com/meta-layoffs-tech-ceo-pandemic-boomlast- forever-dumb-mistake-2022- 11?international=true&r=US&IR=T.

2. Contributor Guest. ""Big Tech' Layoffs Create Big Opportunities for Small and Mid-sized Firms." TechRepublic 29 Aug. 2022 www.techrepublic.com/article/layoffs-create-opportunitiessmbs. Contributor Guest. ""Big Tech' Layoffs Create Big Opportunities for Small and Mid-sized Firms." TechRepublic 29 Aug. 2022 www.techrepublic.com/article/layoffs-create-opportunitiessmbs.

3. Diaz , Sam . "After the Layoffs : Increased Workloads Stress Out Those Left Behind." ZDNET , 23 Oct. 2008 , www.zdnet.com/article/after-the-layoffs-increasedworkloads- stress-out-those-left-behind. Diaz, Sam. "After the Layoffs: Increased Workloads Stress Out Those Left Behind." ZDNET, 23 Oct. 2008, www.zdnet.com/article/after-the-layoffs-increasedworkloads- stress-out-those-left-behind.

4. Ngo Madeleine. "What the Tech Layoffs Could Mean for the Economy." Vox 12 Sept. 2022 www.vox.com/policy-andpolitics/ 2022/9/12/23345276/tech-layoffs-labor-market. Ngo Madeleine. "What the Tech Layoffs Could Mean for the Economy." Vox 12 Sept. 2022 www.vox.com/policy-andpolitics/ 2022/9/12/23345276/tech-layoffs-labor-market.

5. Stanford University . "What Explains Recent Tech Layoffs , and Why Should We Be Worried?" Stanford News , 2 Dec. 2022 , news.stanford.edu/2022/12/05/explains-recent-tech-layoffsworried. Stanford University. "What Explains Recent Tech Layoffs, and Why Should We Be Worried?" Stanford News, 2 Dec. 2022, news.stanford.edu/2022/12/05/explains-recent-tech-layoffsworried.

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