As tech companies are downsizing jobs, demand for tech positions in the US hasn’t waned, with eight of the top 10 “best jobs” this year being technology roles know about mass layoffs .
According to data from job portal Indeed, tech jobs in high demand are topped by full-stack developers, followed by data engineers, cloud engineers, senior product managers and back-end developers.
Nearly half of the top 25, about 44 percent, had tech jobs in the US market, reported CNBC, citing the data.
In fact all jobs on the annual list “pay annual salaries that are above the national average”.
At least 10 percent of advertised positions offer remote or hybrid work.
Industries like Retail, Finance, Government, Aerospace, Professional Services, Travel, Health Care are looking for people with technical skills.
Tech firms such as Google, Microsoft, IBM, SAP, Amazon, Meta, Spotify, Salesforce and others announced massive layoffs.
Read more about tech
European software giant SAP has joined the parade of tech companies announcing Thursday that it is cutting around 2,900 jobs, bringing its reduction to around 3,900 jobs, as iconic US tech company IBM said it was cutting about 3,900 jobs mass layoffs .
Deeper layoffs are coming in 2023 as most business economists predict their companies will cut payrolls in the coming months.
According to a CNN report citing a new survey, only 12 percent of economists — polled by the National Association for Business Economics (NABE) — expect their firms to increase employment in the next three months, “down from 22 percent.” percent this fall”.
It is the first time since the early days of the pandemic that more business leaders forecast a shrinking of jobs at their firms.
According to NABE President Julia Coronado, the findings indicate “widespread concern about us entering a recession this year.”
Over 70,000 employees have been mass layoffs by over 166 tech companies so far this year.
Yes, technology jobs are still in high demand in the United States despite continued mass layoffs in other industries due to the ongoing pandemic. Many companies are continuing to invest in technology and digital transformation in order to adapt to the new economic and business landscape.
This has created a strong demand for tech professionals with skills in areas such as cloud computing, data analytics, and software development.
Tech companies may lay off employees for a variety of reasons, including financial difficulties, changes in the industry or company strategy, or a shift in the company’s focus.
Sometimes layoffs are a result of a merger or acquisition, where duplicate positions are eliminated. Additionally, some layoffs may be the result of automation or the use of artificial intelligence, which can make certain jobs obsolete.
There are several reasons why a tech company may decide to mass layoffs employees. One of the most common reasons is financial difficulties. If a company is not performing well financially, it may need to reduce costs by laying off employees in order to stay afloat. This can happen if a company is not generating enough revenue, or if it is spending more money than it is making.
Another reason for layoffs in the tech industry is changes in the industry or company strategy. For example, a company may shift its focus to a new product or market, and as a result, some employees may no longer be needed. Additionally, a company may decide to outsource certain tasks or functions, which could result in layoffs for in-house employees.
Mergers and acquisitions are another potential cause of layoffs in the tech industry. When two companies merge, there may be duplicate positions, which can result in layoffs. Additionally, the merged company may decide to restructure its operations, which could also lead to layoffs.
Lastly, the use of automation and artificial intelligence can also result in mass layoffs in the tech industry. With the increasing use of these technologies, some jobs may become obsolete, and employees may be laid off as a result.
It’s worth noting that companies generally try to avoid mass layoffs, as they can be costly and disruptive for employees and can also damage the company’s reputation. Some companies try to reduce costs through other means, such as cutting back on non-essential expenses or offering early retirement packages to employees.
For more follow us on google news