How To Know Layoffs Are Coming And What To Do About It
If recent headlines are anything to go by, the future of the tech industry isn’t as secure as we once thought it was. Mass layoffs at Stripe and Meta closed out 2022, and in January alone, Google’s parent company announced it plans to shed 12,000 of its workforce, while Amazon has decided to cut 18,000 employees from its books.
For those working in tech, especially in a sales, marketing or recruitment division, these statistics, along with a retracting economy can only mean one thing: more redundancy announcements are on the way. But what can you do to mitigate the potential fallout of losing your job?
Spot the signs
While there’s no way to guarantee your survival in a round of layoffs, there are a couple of things you can do to practically assess whether or not the company you’re working for is on a downward spiral or if it will be able to weather the current storm and retain the majority of its employees.
Has a hiring freeze or salary freeze been in place for the last couple of months? Are senior leaders walking away from their positions, especially at C-suite level? What about your own line manager; have they been locked away in meetings recently? All of these scenarios are indicators that resources are being reassessed and could mean that some employees will be receiving severance packages.
If you’ve identified that change is afoot, burying your head in the sand in the hope your hard work and skills will keep you safe from cuts isn’t the way to secure your future—you need to have a backup plan in place.
Career cushioning is a new trend whereby those who are still in employment start bolstering their long term career prospects by upskilling, participating in learning and development programmes, and expanding their professional networks. Networking doesn’t necessarily equate to a job interview or offer, but a recent study by Techjury found that 95% of people agree better business relationships are built through face-to-face meetings.
If you do feel the winds of change are the air and want to take assertive action, moving to a new job could be the best solution. The City AM Job Board has hundreds of opportunities in companies that are actively hiring, like the three below.
Production System Engineer, ByteDance, London
ByteDance’s suite of more than a dozen products includes TikTok, Douyin, Toutiao, Helo, and Resso. It is currently hiring a Production System Engineer to join the Data Systems Infrastructure (DSI) team to support fast growth and manage the content on the platform. You’ll be responsible for managing the full life cycles of ByteDance’s server fleet, including initial deployment, OS installation, service provisioning, inventory management, troubleshooting and repairs, and eventually decommissioning and recycles and will be responsible for working cross-functionally on large-scale data centre projects and initiative including data centre buildout and server deployment. The ideal candidate will have a BS in a technical field or commensurate experience, knowledge of Linux and hardware systems in a production environment and experience in shell scripting or programming languages. See the full job description here.
Investment Analyst, Octopus Energy, London
As part of the wider Octopus Energy group, Octopus Energy Generation sources, invests in and actively manages a range of utility scale renewable energy assets. It is looking to expand its team as it continues to scale its investments base of £5 billion. As an Investment Analyst you’ll join an expanding team to help build origination streams and assist in the evaluation and execution of new investment opportunities across solar, wind and other renewable technologies. You’ll also contribute to and own specific investment strategies. Transaction experience in renewables, infrastructure or the energy sector from working as a fund manager, investment banker or finance lender is a plus but not essential. View more details about this role here.
IT Security Lead, WPP, London
WPP IT provides IT services for WPP, the world’s largest communications services group. It is currently looking for an IT Security Lead who will play a critical role in developing and implementing a world class IT security programme to protect operating companies and agencies from cyber threats. You will also assist in setting the vision and strategy and be responsible for escalations relating to IT security operations, security assessments, incident response, and security advisory in all aspects of information technology. A certification in security and a BSc, BEng or MSc qualification are desirable but not essential, but you will need to have a comprehensive knowledge of information security risk standards, frameworks and best practices in complex global organisations. Apply for this opportunity here.
Future proof your career by visiting the City AM Job Board and exploring your next move today