Across 2022 and 2023, hundreds of workers lost their jobs in a post-pandemic environment which saw tech companies tighten their belts in response to changing customer demand, rising inflation, and a spate of over-hiring during the Covid-19 crisis. In fact, according to data from the redundancy tracking website , more than 420,000 workers lost their jobs across that period. Towards the end of last year, things seemed to settle––but now, are back. Layoffs.fyi layoffs Almost 50,000 people have been laid off so far this year, with Salesforce, SAP, eBay, Google, PayPal, Amazon, Wayfair, and Vroom accounting for a significant slice of the pie. Microsoft also made 1,900 redundancies in its 22,000-person gaming division, which accounts for 8.64% of its staff. Opinions are divided as to why companies are once more cutting thousands of jobs, but continued efforts to rationalize cost bases are likely to be part of the picture. Additionally, high-interest rates and the rise of AI are two other factors that may be contributing to job cuts. Fears and worries post-layoff If you’ve just been told your job is being axed, the reasons why may provide scant comfort. There are a whole host of worries and fears that come with redundancy, and you may worry about money or the effect it may have on your career. You may also experience psychological issues, because losing a job can lead to depression and anxiety, for example. Some people can feel shame or failure, and worry about their futures. Minding your mental health around a layoff is crucial, and it is also key to understand that this isn’t a reflection on you or your abilities, and it is rarely personal. Additionally, many people experience at least one redundancy during their working lives, so try to keep this in mind as you navigate the first few days after you get the news. That’s one very important factor to be aware of, but here’s what else you can do to rebound after you get bad news. Look at your money situation Finances can cause huge stress during a redundancy, so assess your financial situation and create a budget to manage your expenses during the transition period. This may involve cutting back on non-essential spending, applying for social security support, or exploring other options for financial assistance, such as a mortgage holiday if needed. Refine your resume Take some time to polish your resume, adding any new experience, skills, and professional certifications. Also, update your professional social networks you’re on. Specifically on your professional social presence, make sure you set yourself to “open to work” as you’ll have a better chance of being contacted by recruiters looking to hire for your skill set. Networking works Thanks to referral bonuses, it’s now far easier to leverage your contacts to boost your job search. Reach out to those on your professional network, including former colleagues, mentors, and industry contacts, to inform them of your situation and ask about potential job opportunities or referrals. Begin looking for a job Start actively searching for new job opportunities through . Decide what roles and areas you’d like to work for, and consider broadening your search to include industries or roles outside of your previous experience if necessary. online job boards Recent data from Glassdoor indicates that tech candidates should look to non-tech competitors who are also hiring for their skills. That’s because many tech candidates gravitate towards “traditional” tech firms, so non-traditional companies will often pay more to attract the best talent. Be patient It can take a lot of time, effort, and patience to get a new job. To help, think about new skills development. Enhance your existing skills and qualifications through online courses, workshops, or certifications that can make you more competitive in the job market. If you’re just starting on your new job hunt, then the is a great place to begin. It contains thousands of open roles, like these three. HackerNoon Job Board Whisker, formerly known as AutoPets, is the maker of Litter-Robot, Feeder-Robot, and Litterbox.com. The will be responsible for ongoing AWS IoT development, integrations with third-party IoT products, co-management of an agency partner, system debugging and more. You will also provide support to the mobile application team when developing new interfaces and debugging issues. Senior Software Engineer In Washington, the MetroStar is seeking a to develop web applications using .NET / C# / Entity Framework / MVC / RESTFul APIs as well as establish and maintain a high level of client trust and confidence with your software development skills, and creatively think out of the box to help out with troubleshooting issues and providing innovative solutions that fit customers' needs. Full-Stack (.NET) Developer Or, discover this job at G-Research in Dallas. You’ll join the Infrastructure Development team, providing tooling to maintain and develop the smooth running of the company’s IaaS platform and allow other software development teams to leverage it to its full potential. Software Engineer Accelerate your career in tech today via the HackerNoon Job Board By Kirstie McDermott

The is an opinion piece based on the author’s POV and does not necessarily reflect the views of HackerNoon.

Walkthroughs, tutorials, guides, and tips. This story will teach you how to do something new or how to do something better.

This Is How You Can Break Barriers as a Young Woman in Tech

C-Suite Executives From Slack, Asana, Coursera, Chainalysis and DocuSign Talk Equality in Tech

Discover how to add a new guaranteed revenue stream today

Too Long; Didn't Read

Make resilience your competitive advantage

Tech Layoffs Are Back: Here’s How To Rebound if You’ve Just Been Laid Off

About Author

Comments

TOPICS

THIS ARTICLE WAS FEATURED IN

Related Stories

Untitled Story

From Mozilla to Meta, Amazon and Microsoft, Rustaceans Are in Demand Right Now

1500 Employees Wrap Up Their Time with Spotify in Its Third Round of Layoffs this Year

Why 2024 Is the Year of Skills-Based Hiring for Tech Workers

You’ve Been Laid Off. Now What?

What No One Told Me About Being a Product Manager at an Early Stage Startup

From Mozilla to Meta, Amazon and Microsoft, Rustaceans Are in Demand Right Now

1500 Employees Wrap Up Their Time with Spotify in Its Third Round of Layoffs this Year

Why 2024 Is the Year of Skills-Based Hiring for Tech Workers

You’ve Been Laid Off. Now What?

What No One Told Me About Being a Product Manager at an Early Stage Startup

Light-Mode

Classic

Newspaper

Dark-Mode

Neon Noir

Minty

HN StartUps