Tech layoffs need context, not alarmist hot takes - The San Francisco Examiner

Are you seeing scary headlines about tech layoffs? Take a minute to read the cool takes of experts, too.

Many tech stocks have plunged, and some crypto prices have cratered. Some tech companies are laying people off, and layoffs are scary. If it happens to you, it can be emotionally devastating , yet survivable. As of May 6, software development job postings on Indeed are up 123% above their pre-pandemic baseline. “They have kind of flattened out since mid-January,” Konkel says. “But the idea that we’re seeing software development job postings take a substantial dive is just not the case. That’s just not true.

That’s from Dan Ives, a tech industry analyst at Wedbush Securities, and he makes a really important point about some companies hiring too fast in the past. “There are undoubtedly a number concerning economic headwinds that could stall growth, including the catchall ‘uncertainty factor’ that tends to put companies in wait-and-see mode with investment and hiring. The challenge is always in interpreting specific examples of a company reporting weak earnings or hiring slowdowns with the net effect across all technology companies and hiring.”

There are layoffs happening, and layoffs are hard. But the nation added 428,000 jobs in April, and the tech jobs market is still very strong. There is bad inflation right now, and that can be a harbinger of recession, and that, too, is concerning. But on May 11, the Labor Department also reported thatin April for the first time since August. But you might have missed that headline because of reports of tech stocks plummeting. They did. But there are also real market forces at play there.

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