Where do tech workers go after layoffs?
Companies have laid off thousands of workers in the first few months of 2023, many of whom signed non-competes or have few local prospects. Such a significant shift in the labor market means many people need jobs. Where do tech workers go after layoffs?
Although the rounds of layoffs in 2023 have affected many, the industry is relatively unchanged. There were around 6.5 million people in the tech sector as of December 2022, with a 1.8 percent unemployment rate. Even though tech firms primarily based in the United States let go over 147,000 employees during layoffs as of June 2023, the number is relatively small in comparison.