What’s really happening after those tech layoffs

I’ve mentioned layoffs before hitting some of the larger tech firms and how it’s not something to be focused on.    But more data to reinforce that.

According to an analysis of laid-off workers conducted by Revelio Labs, a workforce-data provider, 72% have found new jobs within three months. Even more surprising, a little over half of them, at 52%, have landed roles that actually pay more than what they earned in their lost jobs. The job prospects of laid-off workers vary widely based on their occupation. Software engineers have had especially good luck, Revelio Labs found, with 79% of those who lost their jobs since March landing new gigs within three months. On the other hand, human-resource specialists have had a more challenging time, with only 58% finding a new employer quickly. 

Or, how about this?

Looking at data from Parachute and Layoffs, both compile information provided by out-of-work employees. They estimate that 75% of tech workers laid off in October will find a job within three months. That’s up from 71% for those laid off in January this year and 67% for those who lost their jobs in July 2021, when Silicon Valley was still amidst a hiring binge. 

The noise about tech layoffs is precisely that – noise.  These are companies that over-extended and are trimming up.  These are valuable employees who will get new jobs in a tight economy.    Do not focus on that noise.

It’s encouraging news.