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Tech Layoffs: COVID-19 Means Ups and Downs for the Foreseeable Future

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… the financial crisis of 2008-2009. In 2009, tech industry employment fell 4.7%, while tech occupation employment fell 2.1%.

“Because the recession was so deep, there wasn’t much tech employers could do other than wait it out,” Herbert said. “Compared to many other industry sectors, tech fared reasonably well. By 2011, tech industry employment returned to 2.6% growth and tech occupation employment grew 4.5% (annual tech employment growth has been positive ever since).”

IT pros who are in the mobile workforce will find it easier to get a new job, Janulaitis said. They already have the skills in high demand, plus they know how to find a job without going into the office.

In addition, technical experts who know the workspace of online contracting sites like Freelancer will find it easier to find a new opportunity, he said.

“As the pandemic continues, legacy IT teams will be at greater risk for displacement,” Janulaitis said. “The shift will be to a more mobile workforce. The paradigm for what an IT organization looks like and how it operates will change dramatically as the pandemic lengthens. Unless an IT worker embraces the new mobility environment, including self-development, they will find that they are in the same place as all of the people hired at the peak of the dot-com boom. When the bust came, there were no jobs available for them because they were not qualified.”

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