News: Most fired tech employees find new jobs in 3 months: report

Appointments

Most fired tech employees find new jobs in 3 months: report

Nearly 79 per cent of terminated tech employees quickly landed a new job, revealed The Wall Street Journal report, citing a ZipRecruiter survey.
Most fired tech employees find new jobs in 3 months: report

In 2022, the tech industry witnessed a layoff season like never before. While many lost jobs in the ongoing funding winter and global macro-economic conditions, most of them also landed new jobs within three months of starting their search.

According to a report by The Wall Street Journal, which cited a ZipRecruiter survey, nearly 79 per cent of terminated employees in the tech industry landed a new job in three months duration.

"Despite the widespread layoffs, hiring freezes, and cost-cutting taking place in tech, many tech workers are finding reemployment remarkably quickly," said Julia Pollak, chief economist at ZipRecruiter.

Not only tech employees, staff in sectors like entertainment and leisure, transportation and delivery, and manufacturing, also found new jobs quickly, the data showed.

The same report revealed that about 5 per cent of the fired tech workers spent approximately six months hunting for work.

50 enterprises, including Meta, Amazon, Alibaba, Cineplex, Ford, Byju and others, laid off more than 90,000 staff globally, according to People Maters’ tally.

More tech companies are set to sack their workforce in early 2023.

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