According to a Business Insider article which was published in the beginning of 2023, the total number of layoffs in the technology industry in the United States in 2022 was around 100,000. And if that is not enough, in the same article, an assessment was published claiming that the year 2023 may be even more complex and may also entail further and much more extensive layoffs.

Expoint is a cutting-edge platform that contains a repository of tech jobs and enables job seekers to conveniently find suitable positions from all the most prominent firms in the industry in one location.

"It’s not the first time in history that we are seeing significant efficiency measures being taken by startups and large tech companies," he says. "Those who have been working in the industry for several decades probably remember the economic crisis of 2008 and a series of other events that led to extensive efficiency measures. But in the end, the demand for good employees in the industry is not going to disappear. Even these days you can see companies that are still recruiting workers and some are even desperate for employees.

An era of sobering up, and not an apocalypse

Many experts believe that the current state of the tech industry is a crisis that could have been foreseen in advance. 2021 was considered a period of unprecedented fundraising, which led to the great rise of the "unicorns"—companies that received funding that in the eyes of some analysts was considerably higher than what they were actually worth.

As a result, it is logical and requested that a "correction" be carried out in both the previous year and the coming year, that is, that various companies return to operating with more realistic budgets that truly reflect their value and market demand for their products and services.

"It is important to understand that the tech industry as a whole is an industry that has an important and central role in the global economy. "It's a role that only becomes more and more significant as the world progresses and as technology occupies a larger share of all of our lives."

From foodtech and biopharma to companies that deal with artificial intelligence and organizations that specialize in information security and cyber protection, these companies are not going to disappear in the coming years. On the contrary, they will only become more present and influential in our lives. That being said, the recent period shows that even promising and sought-after organizations need to keep modest and handle themselves cautiously in order to grow and prosper in today's competitive reality.

The number of open worldwide positions at Amazon over the last 8 months

The number of open positions at Amazon over an 8-month period. A sharp decrease is clear. (Credit and data: Expoint website)

And for workers at the beginning of their career who aspire to get into the tech industry, it is worth remembering that there are many recruiters who will still be happy to make use of your skills. The data company we mentioned earlier manages, among other things, a high-tech recruitment platform called Expoint, which proves that the demand for high-quality employees in tech is still high and significant.

Expoint data shows that even these days there is a demand for workers in a wide variety of positions, from Software Engineers through Automation and Quality Assurance Engineers (QA Automation Engineers) to Full Stack developers and Software Developers. In addition, the data shows that even these days there is a demand for employees who have not necessarily acquired technological training, such as product managers, marketing and service and sales teams.

Is now a good time to look for junior positions?

Whether you’re a student or a fresh graduate with no experience - if you have the time and ability to combine your everyday life with your first job in the field, you should put your efforts into it. Even during these days, as mentioned, it is important to understand that there are still companies that will allow you to join them and gain knowledge and experience, even when other companies are required to lay off and cut back.

People without practical work experience in the field fear that during a period of layoffs and efficiency measures, it will be even more difficult for them to find a job. This is partially true, but it still does not mean that you should give up in advance. Expoint’s data shows that the demand is still there, but of course jobs will not fall from the sky if you don't put in the effort to get them.

The most important suggestion is to have your finger on the pulse, constantly go over new jobs, send resumes and update them according to the specific jobs you are applying for and even use systems like Expoint to receive notifications about new jobs that are posted. It's worth remembering that boldness, certainly at this stage of the career, can open a lot of doors. This means, for example, that instead of waiting for the recruiters to come to you, you can actively search for companies you want to work for and contact the recruiters yourself.

And even if these steps do not bear fruit immediately, it is quite possible that they will help you get into the databases of recruiters at the various companies, so that if they need new employees in the future, you might be among the first to receive a summons for an interview. As with everything else in life, personal initiative and self-motivation can significantly improve one's chances of landing a job in the tech field.