Layoffs continue to be the “answer” for “underperforming” tech companies.
There’s a cool tracker that Roger Lee put together: https://layoffs.fyi/
Intel announced layoffs recently, to the tune of 15,000 employees by end of year.
Dell is all but confirmed to plan a reduction of its sales force by 10% (another estimate 12,500 employees).
This trend has been a runaway train since the pandemic.
Hundreds of thousands people across thousands of companies, many of which employ multi-millionaire executives who received bonuses within a year or two of these layoffs.
These companies adjusted their economic forecasts for that event, somehow tabulating that the once in a generation boost to sales brought by the remote work boom — Would not only continue, but was just the start to further growth.
It’s insane, great talent is shuffled around these companies. Families are impacted. And what’s worse, the “cost savings” from axing employees is ALWAYS temporary.
Most of those displaced will be able to take another role at the same company within the year. That’s exactly what happened last time Intel promised a 10bn cost savings measure through layoffs.
So, what’s the point of this farce? Assuaging shareholders so stocks don’t plummet? Is this really the best we can do?
Take my opinions with a giant sack of salt. I’m sure there’s a pundit out there that can explain the 3D chess moves at play here.
But as someone who has been in IT for years, it’s incredibly frustrating to see this cycle continue to play out — over and over.
And it’s primed to only get worse.
If you’re in any tech role, and you’re sitting comfy — wake up!!
You need to upgrade your skills.
Companies don’t honor tenure anymore, the mantra used to be last in, first out. Now its “who can I replace with a cheaper worker, AI, or combination thereof”
If you’re considering jumping into tech, don’t take this as all doom and gloom. It’s still a field that will continue to see expansion.
However, you will need to be tactical.
Your “niche” needs to be more comprehensive.
Companies want multi-tools, folks who can cover multiple weaknesses in their organization.
The days of being the “cobol guy” aren’t gone, but they’re sliding away.
DBAs are expected to be analysts, comfortable with data viz.
Programmers are expected to have graphic design or sys admin chops.
Helpdesk roles expected to have certs and automation experience.
That whole “entry level role, need 15+ years of experience, a degree, and at least a book or, ideally, two published” schtick.
Don’t be complacent.
Level up your skills.
Find good mentors.
Schedule a call with your friendly neighborhood Tech Skills Coach 😉
And most of all — don’t let Skynet win!