Did not see it coming: Tech Layoffs.
The tech industry has long been seen as a beacon of innovation and job security, but recent events have proven otherwise. In the beginning of 2021, we saw massive layoffs from both big tech firms and startups. Careers in the tech industry were hit hard, with Crunchbase recording a staggering number of layoffs https://shorturl.at/sLuvx. The uncertainty doesn't end there, as more layoffs could still be on the horizon. Let's shift our focus to Africa, we observe a similar trend with tech companies closing their offices in countries like Nigeria while simultaneously opening new offices in others, such as Kenya. This upheaval has left many in the tech community grappling with unexpected career changes, uncertainty, and the challenge of navigating a new job market.
I had the chance to talk to different people who experienced the layoffs, either actively (were laid off) or passively (saw workmates being laid off and lived in uncertainty). The myriad of emotions covered in these conversations leaves me with one question: With automation and a continuous record of bad economy, where does a career in tech sit?
#Story 1 Uncertainity in the tech industry is two-fold.
First, working in cybersecurity, it can be challenging to balance the value of the work I do—especially routine business-as-usual tasks—against my compensation. At times, it feels like cybersecurity teams would be at the top of the "expendables" list in the event of business challenges. A modified version of a quote from Vladimir Lenin captures the experience well: "There are months where nothing happens, and there are days where months happen." This sums up how it often feels to work in cybersecurity.
Second, working in a global publicly traded company brings its own persistent anxiety. As someone who dabbles in DIY investing, I understand all too well how public companies operate on a kind of confidence cycle: Good financial results lead to happy investors, which boost stock prices, make directors pleased, and often result in more investment in employee welfare. However, even one bad quarter can unravel this entire cycle, with the first to feel the impact being the employees, whether through salary freezes or redundancies.
In such an organization, the release of quarterly results is always anxiety-inducing. You find yourself hoping that your division has at least met expectations because if it hasn’t, you never know what might happen. For a company with thousands of employees, laying off a relatively unknown cybersecurity professional is not difficult—it’s just another statistic.
Given the current state of the global economy, it feels like the only viable option is to continue playing the employment “game” for the time being and wait for the right moment to exit. Though at times, it does feel like playing Russian roulette.
#Story 2 Laid off Abruptly
Late last year (2023), I was thriving in an organization where I had been working for over two years. The role was primarily remote, and I only occasionally interacted with the C-level executives.
Within the span of a week, many changes took place. The organization had never indicated the possibility of layoffs, but since I worked remotely, I might have missed any warning signs. We were suddenly called into an urgent meeting where we were informed that the organization was facing some financial difficulties, and our department was among those being laid off. I expected this to be a situation that would take a month or so to be resolved, but the termination was immediate, and by midday, I no longer had a job.
Although I believed I might not be the best in my role, I knew I was good enough, so the layoff came as a shock. I started to worry and questioned whether I was truly adequate for the job. This uncertainty lingered in my mind and life for a while, leading me to take a break from work to focus on building my skills. I wish the organization had at least given some warning signs of the layoff.
I've learned that it's important to always be searching for a job, as I can be just as disposable as anyone, regardless of my skill level. Even though I'm currently employed, I've developed an anxious feeling, constantly wondering if each day could be my last. This has made me worry about the entire aspect of employment. But, in the end, life is about fighting to survive, and that's exactly what I've been doing since the layoff.
#Story 3 I choose me
I worked in the same organization for more than five years, but my last two years were filled with more uncertainty than anything I'd experienced in my entire 10-year career. The organization went through several rounds of layoffs, often spaced just a few months apart, with constant rumors of more to come. There was no clear vision behind these layoffs—no explanation of the goals, how they would improve the organization, or what we as employees could do to boost productivity. This lack of communication and direction made the situation even more unsettling.
After witnessing several of my close colleagues being laid off and seeing the loss of hope among my teammates, I decided to prioritize myself. I have a family and many responsibilities, and constantly living in fear took a toll on my role as a partner and parent. I realized that to be a better member of my family, I needed to make choices that would reduce my stress and ensure a more stable future and the clear decision was to quit.
Author Thoughts;
My friends and I frequently discuss the importance of acquiring technical skills to thrive in the evolving job market. These skills—such as operating machinery, engineering, and complex problem-solving—are less likely to be easily automated. We wonder whether the increase in layoffs is primarily due to automation, economic downturns, or strategic decisions made by organizations.
Question; What do you think is the cause of the continuous layoffs in the tech industry today?
"More taxes ...more daily costs of running the businesses... Less Revenues"
"Could be outsourcing and probably move to cloud computing services requiring less human manpower."
"Economic Uncertainty, Pandemic Overexpansion, Shifts in consumer Behaviour, Tech advancements, Intense competition, Funding constraints, Regulatory pressure and Globalization and Outsourcing"
"Mainly is business uncertainty, slow recovery since Covid, ballooned costs due to a strained economy/high cost of living, unstable political environment (people are not injecting money to the economy infact it chases foreign investments), most companies are not adapting fast to changing market/ business environment , lack of innovation."
"Dynamic nature of the market, Poor headcount planning, Lack of understanding by other business units(don't see IT or Cybersecurity as essential) we are seen as needless cost centre's, Downright shady practices by certain companies
Export of jobs( it's always cheaper in other places ... from America to India and some African countries, Start up bubble( building tech solutions that actually don't solve any problems)"
I think threat of change is pretty potent. In humans, blood pressure doesn't go up when people get laid off: it goes up when they first hear rumors that layoffs are coming at the end of the month. Robert Sapolsky