According to the recent survey report, by the Wall Street Journal “The ZipRecruiter” said 79 percent of laid off staff in the tech industry landed a new job within three months.
However, the survey did not disclose information on whether they received new employment with the same, higher, or lower compensation packages.
Julia Pollak, the chief economist at ZipRecruiter, was quoted as saying, “Despite the widespread layoffs, hiring freezes, and cost-cutting taking place in tech, many tech workers are finding reemployment remarkably quickly.”
The survey also revealed the following findings
- The workers that are employed in other industries, like entertainment and leisure, transportation and delivery, and manufacturing, also found new jobs quickly.
- Nearly four in 10 previously laid-off tech workers found jobs less than a month after they began searching.
- The survey showed that about 5 percent of laid-off tech workers who found jobs from April to October had spent more than six months. hunting for work, down from 26 percent of those hired between August 2021 and February 2022.
According to a Crunchbase tally, More than 91,000 workers in the US tech sector were laid off in mass job cuts in 2022 and layoffs will continue in 2023.
Around 17,000 tech employees lost jobs in India in the edtech companies like BYJU’s, Unacademy, Vedantu, and others in 2022.