The Rise of Tech Layoffs

Will the tech industry continue to see layoffs and hiring freezes?

As we’ve all likely heard by now – the tech industry hiring boom appears to be slowing down. What remains to be seen is if the hiring freeze and layoff trend will continue for this once-hot industry.

A recent article by Protocol highlights some of the tech company layoffs in 2022, including more than 16,000 in May alone. While startups have been hit hard, major names in tech like Microsoft and Meta have also dramatically slowed hiring or frozen it all together.

From the major tech players to smaller startups, the motivations for slowed hiring and layoffs included eliminating redundancies, slowed economic growth, and a reprioritization of business strategy.

Check out the full article and stay tuned for an upcoming CXR meeting on how a potential recession could impact recruiting.

Chris Hoyt

Chris Hoyt

A veteran of recruiting and HR, Hoyt is a sought-after speaker with presentations including national conferences with SHRM, LinkedIn, HR Technology, ERE and others in the USA as well as UNLEASH, iRecruit, Australasian Talent Conference and more abroad. Chris has been promoting and leading full scale and enterprise-wide integrations of social media and mobile marketing within workforce strategies for his entire career. His expertise and passion for interactive/social recruiting, candidate experience, and both national and international recruiting strategies are all areas that Hoyt now leverages as co-owner and President at CareerXroads, a Recruiting/Staffing consulting and think tank organization that works with corporate leaders from around the world to break out of traditional recruitment practices and push the envelope in an effort to win the ongoing war for top talent.

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