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By 18.10.2023July 11th, 2024No Comments

18.10.2023 |

Tech companies have laid off more than 400,000 people in the past two years. Competition for the jobs that remain is getting more and more desperate.


The tech industry has experienced a significant downturn in the past year, with over 400,000 job losses reported in 2022 and 2023, according to This has created a challenging job market for tech professionals, who are now competing for fewer positions with lower wages and limited opportunities for promotion. The IT sector has lost about 2.5% of its jobs in the past year, leading to increased job insecurity and longer tenures in current roles.

Major tech companies, including Meta, Google, and Amazon, have implemented extensive job cuts and hiring freezes. Although some laid-off workers have been rehired, such cases are rare and do not significantly offset the overall job losses. The layoffs are a consequence of the rapid growth experienced in 2020, when companies hired more employees than they could sustain.

The continuous decline in the tech job market has sparked anxiety among job seekers, prompting them to be more assertive in their search. This was evident at the Grace Hopper Celebration, an annual conference and career fair for women and nonbinary tech workers, where men flocked to the job fair in large numbers. The desperation to secure employment was palpable, with attendees running to the fair while being urged to slow down by event staff.

The tough job market has taken a toll on individuals like Carrie Groszewski, a computer science and economics student at Vanderbilt University. Despite following the recommended advice to gain experience through personal projects, internships, and club involvement, Groszewski feels discouraged as she approaches graduation without a job offer. Similarly, Nia McSwain, who hopes to transition from the hospitality sector to technology as a project manager, spends hours each day applying for approximately 40 positions. Although their efforts yield some interviews, securing a role remains challenging.

Tech professionals like full stack engineer Philip John Basil have been actively networking through platforms like LinkedIn and Discord in hopes of securing a contract. While he has had numerous interviews, he has yet to secure a position. The highly competitive job market has heightened job seekers’ determination and reliance on networking to increase their chances of finding employment.

Overall, the tech industry is facing a difficult job market characterized by job losses, hiring freezes, and increased competition for fewer positions. Job seekers are grappling with longer tenures in current roles, limited promotion opportunities, and lower wages in certain sectors. The desperation to secure employment has been evident at career fairs and conferences, with individuals going to great lengths to stand out among the competition. Despite their efforts, many remain discouraged and uncertain about their future in the industry.



Target audience

Digital skills for the workforce

Digital technology

Basic Digital Skills

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