It’s no secret that there have been massive layoffs in tech for the past few weeks, which begs the question: Is the dream of landing a fancy tech role losing its shine?

Just like anything, there are ups and downs. The tech industry is no different. Layoffs are how tech companies reckoned the financial decisions made during the pandemic (We get it; layoffs are still nerve-wracking. We hear you.) 

Finding your next role can feel overwhelming, especially if you weren’t planning on job searching.

Understanding the job search strategies you should use when companies have mass layoffs will help you quickly crank up your interviews!  

What Is ‘Mass Layoff?’

According to Mondo, “Mass layoff” happens when one of the following happens: 

• • When at least 50 employees are laid off in 30-days or less, totaling one-third of the company’s workforce 

• • 500 employees are laid off within 30-days or less, no matter the size of the company 

Job Search Techniques + Tech Layoff Trends To Watch 

The pandemic caused companies to grow too fast – one of the culprits of today’s mass layoffs. Companies like Meta are laying off 13% of their workforce, totaling 11,000 employees, with plans of reducing more. 

Meta is one of many big tech companies facing layoffs due to the fast growth. Here are labor trends to be on the lookout for that could signal layoffs in the future:  

• • The company does not have scalable processes. 

• • Senior leadership is constantly changing – there need to be more stable leaders in place. 

• • Employees don’t have an idea of the company culture 

• • Company growth has outpaced current systems in place 

When you are unsure of your current company’s financial outlook, here are types of job search techniques you can begin to use immediately: 

Network Expansion

Use this time to network with other professionals in your field. Our favorite way to expand your network is to use informational interviews.

UpSkilling 

Upskilling is a job search technique that could help you land a higher-paying role, especially in tech. Don’t be afraid to cross-train. 

Headhunter Approach

Connect with recruiters in your field. The best way to find new roles is to stay connected to niche-based recruiters/headhunters. 

Join Career Fairs

Virtual career fairs are a quick and easy way to connect with ideal professionals. Check out websites with constant Q & A and niche-based or role-based hiring events. 

How To Choose The Right Job Search Strategy For You

Networking is the quickest way to land a new role. But not everyone feels comfortable reaching out to strangers. It’s best for job seekers to determine the right strategy for them. 

Here are three questions to ask yourself to determine which job search strategy is best for you: 

• Do I feel comfortable creating relationships virtually?
• Am I comfortable with learning new skills? 
• Can I make time to dedicate to my job search daily? 

4 Signs Your Company Is Preparing For A Layoff 

A company can begin layoffs for several reasons, many not dependent on your work style. Here are a few signs layoffs could be looming for your company: 

Hiring Freeze

 Is your company telling you they cannot promote you due to a hiring freeze? 

New Product Expansions Are Paused

The company is not expanding to include new products. 

A Merger or Acquisition

Was your company recently purchased or merged with another company? 

Executives Are Leaving

Are executives leaving the company? Sometimes, senior management knows the financial trends before mid-level management. 

Resources For Professionals Who Have Been Laid Off 

Keep track of the latest tech trends using Layoffs.fyi