Majority Of Tech Employees That Were Fired Have Now Found New Jobs As Per This Report

A new report by the Wall Street Journal is shedding light on how the majority of tech workers that were fired have managed to find new jobs. And that too, only within a tiny three-month timeframe.

Those who sought to get a job within a period of just three months since they were laid off were very successful, the report elaborated.

This particular survey comes from the likes of ZipRecruiter which quizzed quite a few new hires and their respective circumstances. And while it might be a good ordeal to seek new employment, it’s definitely great news to see such positive results in such a short period of time.

As a whole, employment in this particular sector rose to a staggering value of 83%. As per this data, nearly 40% of people had taken around one to three months. Meanwhile, 15% took nearly 3 to 6 months to land the perfect job. And then we had 5% take around six months or more.

In case you’re wondering about that quick turnaround time, well, the answer is simple. It is related to finding a new job in a field where they already have experience, thanks to the previous job and new role.

In case you happen to be wondering, around 74% of the workforce had been rehired in this tech sector. Meanwhile, around 26% opted to trade industries and get better jobs like in the world of retail, attain financial services, and even work in healthcare too.

The survey from ZipRecruiter had been conducted on nearly 2550 US citizens that began a new job within a span of six months, going all the way up to the middle of October.

And those that did end up being rehired, well, they continued to work in this same tech industry.

Neowin was quick to recover from so many layoffs that arose throughout the tech industry. Both Twitter and Meta have ended up laying off a short amount of people to get their finances in a better state of mind as interest rates and credit turn out to be an expensive affair.

At the moment, the way things are now standing, American interest rates could rise to a staggering 5% by next year’s March end. And it could remain in that very same position for a while too.

A huge spike in interest rates is never fun to witness. It just makes it so much harder for firms to hire other individuals. Hence, hiring is paused temporarily and there are just so much fewer opportunities for employment.

But this data is nevertheless very eye-opening. It shows how getting fired in the tech industry may not be the end of the world. If you’ve got the talent and ability to make a difference and the drive to move ahead in the same industry, then you can really go places. It’s all on you and how far you are willing to go at the end of it all.

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by Dr. Hura Anwar via Digital Information World