The move-fast-and-break-things tech scene is going through some growing pains. Unfortunately, layoffs are common in the industry. While it may not feel great, it's important to remember that tech workers' skills are still highly sought after, making them well-positioned for new job opportunities. With a strong job market and a desire for diverse skill sets, many laid-off tech employees succeed in starting their own new businesses or pivoting to fields beyond the tech world.
Someone's loss is another's gain, said Dan Ives, a tech analyst and managing director at Wedbush Securities. "Highly skilled developers and software engineers won't stay unemployed for long, and the companies that snap them up will probably be those at the forefront of exciting new sectors such as artificial intelligence, electric vehicles, cloud storage, and cybersecurity."
Like automotive, the tech industry is constantly evolving. These changes ultimately present pathways for companies and employees to reassess their goals and begin fresh. The road to success in the tech industry is never a straight line, but one thing's for sure, skilled, adaptive workers will always find a way to roll with the punches.