“IT Layoffs: Social Media’s Unforeseen Impact”
The recent influx of IT layoffs has left many in the tech industry feeling uncertain about their futures. However, employees who have been laid off are taking to social media to help them get back on their feet again.
Recent studies show that more and more people are turning to platforms like LinkedIn, Twitter, and Facebook for job opportunities and advice from experienced professionals. For example, workers in the IT field can post information about their skillset or the type of job they’re looking for and hope to receive some assistance from those already in the industry. Companies can also post available positions that former employees may be interested in filling.
Though it may still be a difficult time for those affected by the layoffs, social media is helping to make sure they don’t fall behind with current trends or miss out on potential job opportunities.
According to a former employee of an online startup called Unacademy, there’s no security as you climb the career ladder in a private occupation. Back then, I thought that companies wouldn’t fire their employees easily. But recently I’ve realized that anything could happen at any moment. The 25-year-old was laid off along with what is believed to be 10 percent of the staff shortly after he or she started working here. However, he has accumulated two-three interviews in ten days thanks to the company’s help.
CEO Gaurav Munjal comprised a memo within Unacademy apologizing for the layoffs. It started transitioning employees would be eligible for severance pay equal to the salaries of the notice period plus two months, an accelerated one-year vesting period for ESOPs, medical insurance coverage for two additional months, and dedicated placement and career support.
After the peak days of numerous simultaneous work or 100 percent joining hikes in 2021, Big Tech and startup firms such as Twitter, Meta, Amazon, Salesforce, Cisco, BYJU S, Zomato, Ola, and Meesho have laid off 142,942 employees between January 1 and December 2, 2022, worldwide and in India, as per tech layoff tracker Layoffs. FYI.
Information regarding the layoff of as many as 15,000 independent associates in India since November 2019 is now being widely reported. While only a few tech firms have fired Indian coworkers, the exact number of terminated employees remains unknown. Hardeep Singh, Country Manager of outplacement service company Right Management, recommends that the industry number could also be more than one that is known by the public. This is because many companies are discreetly doing it through outplacement services firms such as his. Layoffs are taking place in large companies in the technology department, IT and ITeS, and start-ups. Layoffs of tech workers are much higher than we reported six months ago. Pharma and healthcare companies are likewise encountering frequent representation-related layoffs. Regardless of the position, one specializes in, it’s all at risk.
In a small span of time, the balance of power has shifted from the Great Resignation to Great Uncertainty for workers. As layoffs have become more common, the number of available workers has dropped and returning power to the bosses and unappealing aspects of work culture are becoming more pronounced.
In conclusion,IT layoffs are becoming an increasingly common reality for many people. Fortunately, social media has become a powerful tool to help those affected get back on their feet again. Through initiatives like networking groups and job search assistance, these platforms have managed to provide the support that so many need in this difficult time. This is especially true for those in the IT industry who have had their livelihoods taken away from them: social media can offer them hope and a new beginning.