(AmericanProsperity.com) – There has recently been a surge of layoffs resulting in the highest layoff rate in twenty years, and some former employees are struggling to find another position.
We’ve seen a huge downsize in large technology companies; there have been layoffs from Meta, Microsoft, Apple, PayPal, eBay, and Amazon. Some of them stated that they were rearranging positions while others said that it was part of cost-cutting measures. Regardless, the amount of layoffs is concerning and job searching after a layoff is “insane,” as described by Allison Criosant, a data scientist.
Criosant worked in the data science industry for over a decade and was recently laid off by PayPal, joining a growing group of unemployed tech people laid off by their companies.
Also, according to people who have been on the job hunt, it’s a difficult terrain, with a lack of reasonable positions. Many have found themselves accepting jobs with the same requirements as their previous position but with much lower pay. They’re having to take pay cuts or change from the field that they are in.
Data scientists and software developers used to be in-demand jobs that many companies looked to fill and paid well for, but many people are having to move out of the industry altogether and find a job outside of it.
Whether it’s less stability, fewer benefits, or less pay, job seekers are coming across job opportunities that are substantial steps down from their previous positions.
Layoffs.fyi is a website created by Roger Lee that has tracked layoffs in tech companies since COVID. Lee stated, “The market isn’t what it once was. To secure a new position, many salespeople and recruiters are leaving tech entirely. Even engineers are compromising — accepting roles with less stability, a tougher work environment, or lower pay and benefits.”
Croissant said that she looked for five weeks and applied to 48 jobs, while only getting two interviews as a result. She took a lowth scale data analyst job and took a three thousand dollar pay cut for it.
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