The end of the tech boom has sparked a flurry of job cuts as companies move swiftly to tighten their belts. Recruitment at Meta and Uber has slowed, job offers from Twitter and Coinbase have been rescinded and deep lay-offs have swept parts of the sector.
But while household tech names have grabbed attention for pulling back on recruitment after a prolonged period of headcount expansion, some analysts, recruiters and jobseekers are finding some reasons to stay calm — for now.
Job postings for software developers in the US are up 120 per cent above an early 2020 pre-coronavirus pandemic baseline, according to data from recruitment site Indeed.com. ZipRecruiter, another job listings site, said the number of openings in the tech sector was strong, with about 1.6 jobs for every unemployed person in the industry.