Earlier this week, Microsoft reportedly let go of nearly 1,000 employees, including those working in Xbox console gaming, Microsoft Strategic Missions and Technology organization, and other divisions. And it wasn’t alone. Data from Crunchbase suggests that by October 2022, more than 44,000 U.S-based tech workers have been laid off by their employers. Hirect also found that the ongoing layoffs in tech have so far impacted 14,000 highly skilled employees from U.S.-based tech startups alone.
So what’s driving the rise in layoffs in the technology industry which, until recently, was struggling to adapt to the Great Resignation trend? To understand the key reasons behind this, Spiceworks spoke to key industry leaders, such as Danny Allan, chief technology officer at Veeam, Cody Harker, head of data & insights at Bayard Advertising, James Neave, head of data science at Adzuna, and Neil Costa, the founder and CEO of HireClix.
The experts discussed at length the top factors behind a slowdown in hiring and the steps that need to be taken to future-proof the technology job market.
With analysts and global advisory bodies predicting more rounds of recession, record-breaking inflation, and supply chain disruptions, businesses are wasting no time to right-size their boats, curtail wasteful spending, and survive the looming storm.
As such, there is no better time to glean useful insights from industry veterans on how to keep the organization afloat amidst multiple disruptive events taking place simultaneously. In an in-depth article for Spiceworks News & Insights, Sean Sollitto, the founder of Relish, an application platform that remedies all enterprise ecosystem gaps, discusses why the right combination of B2B apps and enterprise software can help your company build momentum in the midst of budget-tightening inflation.
Sollitto also shares some secrets for success, such as utilizing the power of AI and machine learning to improve supply chain systems, engaging in healthy cost-cutting measures that don’t create hard-to-fill employee vacancies or curtail innovation, or onboarding the right software with the power to free up employee attention, redirect resources to maximize profitability, and clear the path for innovation.
Read more insights from Sollitto on how businesses can make their operations more efficient and resilient to disruptive forces.
Read the full report here