IT layoffs: These are the most 'riskiest, 'safest' jobs in tech industry
1 min read 11 Feb 2023, 01:37 PM ISTIn India, tech and startup companies laid off employees citing overhiring, funding challenges, and cost pressures
PremiumFor years big tech jobs were thought of as the most secure jobs, but the stories of layoffs have made aspirants reluctant to join the IT industry. The prospective recruits are now thinking twice about their career at the IT industry's leading companies.
For the past few decades, big tech companies are offering six-figure startling salaries straight out of school. But with massive layoffs, the pipeline of talent is starting to buckle as aspirants are thinking twice about hiring.
Microsoft, which hired 58,000 people in the two years following the start of the pandemic, said last month that it was cutting 10,000 positions. The layoffs announced by Alphabet, Microsoft, Salesforce, and Meta total 41,000 so far.
In India, tech and startup companies also laid off employees citing overhiring, funding challenges, and cost pressures.
Jobs isolated from layoffs:
Not all jobs in the IT industry are at risk, there are some jobs where hiring has never frozen.
According to Bloomberg news agency, IT managers, information security analysts, web developers, and database administrators are the careers with the most job security in 2023 in the technology sector.
According to Mint's report, employees in legal and strategy roles have remained untouched so far. Besides, client-facing teams, staff with strong digital skill sets are also shielded.
Jobs at risk in the IT sector:
Jobs that are facing redundancy threats are customer support, basic coding, and maintenance teams. Yesterday Mint reported firms are sacking staff from sales, DevOps, support staff, and admin. People whose jobs are secure can expect a cut in bonus and variable pay.
Engineers and support teams are also at a major risk of layoffs. Indian IT firms such as Tata Consultancy Services Ltd, Infosys Ltd, Wipro Ltd, and HCL Tech have already announced that they will honour all campus hires, but recruits will face stringent screening tests.
What employees can do to find better jobs?
At present, the demand for skillsets in AI and machine learning is high. Startups may absorb younger staff in marketing and sales while banks and insurance, facing high attrition, can absorb staff for marketing, operation, or asset management roles. Basically, improving skill is the important steps to protect your job in today's time.
