More than 118,000 people have lost their jobs in tech this year, according to Layoffs.fyi, and other tech companies have slowed or frozen hiring. While many individual workers must now find new jobs, the broader outlook for tech workers remains strong.
Many smaller firms and companies in adjacent industries are still hiring. Some companies are now jumping at the chance to attract people previously monopolized by recruiters from the largest companies.
"There is still strong demand for tech talent in a wide range of industries," says Julia Pollak, chief economist with ZipRecruiter. Some workers are going to companies and industries that are recession-resistant, "and another group will throw caution to the wind and take a big risk and start their own companies," she says.
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