MM Search Business Delivery Manager, Ewen Macphie, considers the recent spike in technology redundancies and the impact this is having within the UK.
Over the past few weeks there has been extensive press coverage of the large-scale redundancies taking place within the technology sector around the world. Reports suggest that 24,000 tech workers in the USA were laid off in November alone and several global brands, including Meta and Twitter, have recently made substantial cuts to their workforces both overseas and in the UK. More recent articles state that Amazon could be about to make as many as 10,000 employees redundant and the situation going into 2023 seems precarious.
Several reasons are cited as the cause of these mass redundancies, including economic uncertainty and a downturn in online activity. During the Coronavirus pandemic, many businesses experienced a surge in online activity. However, post-pandemic we have reduced the amount of time spent online, which has resulted in these businesses having to reconsider their projections.
Over the past few weeks, I have spoken with several technology employees in the UK who are facing the prospect of redundancy and these conversations have highlighted a common theme among junior staff members. A number of redundant entry-level employees mentioned that a lack of time for training and nurturing may have contributed to the reason for their redundancy, suggesting that more robust mentorship schemes may be needed in this industry.
We would like to offer our sympathies to employees who have been impacted by redundancy during this turbulent time within the tech industry. However, despite many high profile companies reducing their workforces, at MM Search we are still working with many businesses that are hiring within this sector.
Our dedicated Technology Executive Search Division continues to grow and we have partnered with some highly successful tech brands. As a result, we would love to connect with the incredible talent that is now re-entering the market. At present we have tech vacancies available at all levels and we would be delighted to discuss our exciting range opportunities with those looking for their next role within the industry.
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If you work within the tech sector and you’re interested in making your next career move, MM Search can help you find the role that will take you to the next professional level. Contact us today to learn more about our candidate representation service.