Layoffs show that tech jobs are not sacred any more

Job security in sector has been eroded by changing industry trends post-pandemic

NEW YORK - For Ms Sydney Russakov, it has been a year of transitions.

In March 2023, she lost her job at a start-up called Universe, which offers "no-code" software design tools, when it cut her product manager role.

She took a bit of time off before starting a new position at Nextdoor Holdings, the hyperlocal neighbourhood social networking service, in June. She was let go again in November, when Nextdoor conducted its own round of layoffs.

Losing a job is an experience Ms Russakov, 31, is learning to live with. There was "an element of discomfort and surprise that first time", she said. "The second time around, I think I was in a better place to deal with it." The tech industry is also getting used to job cuts. Starting in late 2022, technology companies began conducting rounds of layoffs that were deeper and broader than anything in recent memory.

So far in 2024, over 32,000 tech workers have lost their jobs, according to Layoffs.fyi.

Alphabet, Amazon, Microsoft, Salesforce, Snap and Zoom have all announced headcount reductions in recent weeks. On Feb 7, Bloomberg reported that Tesla staff are bracing themselves for potential job cuts.

The cuts have caused a sense of unease throughout tech, which has long been one part of the economy where work has been easy to come by, well-paid and safe.

Affected employees have taken to social media to broadcast the conversations that preceded their departure - and some of the axing videos have gone viral.

As is often the case with social media, these personal crises don't necessarily add up to a national trend. Unemployment is below 4 per cent, and the US economy continues to add jobs.