The news: The latest spate of layoffs reveals continued restructuring in tech and adjacent industries.
Tech layoff picture: Tech companies have laid off more than 100,000 global workers to date in 2023, per Layoffs.fyi. A total of 159,684 tech employees were laid off in all of 2022.
Big tech is still growing … While layoffs are expected to continue, ostensibly to regulate staffing to pre-pandemic levels, Big Tech companies still have headcounts that are well above pre-pandemic levels, per Insider.
… But it might not be the ideal destination anymore: “Demand has just shifted from the Big Tech industries to smaller companies, as well as other industries like education, health care, government, [and] financial services,” Megan Slabinski, a Bay Area district president of tech at staffing firm Robert Half, told Fortune.
Opportunities in farm-tech: Behemoth agricultural and construction equipment manufacturers are on a mission to hire Silicon Valley tech workers, per Reuters.
The good news: Tech expertise has long been coveted by other industries. Recent layoffs will make these industries attractive to workers eager to continue innovating outside of tech hubs.
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