- Recruiting and economic experts say they aren’t seeing a slowdown in the tech labor market despite some recession fears.
- They say layoffs and hiring slow-downs are few, leaving the market mostly unmoved.
- Workers are still “in the driver’s seat” experts said.
Last week, senior product manager for Coinbase David Hong wrote on LinkedIn that he was up at 4am to prepare for a meeting when his company MacBook abruptly shut down. He later found out he was part of the nearly 20% of the company was being laid off from what the company’s CEO called a looming recession.
“When I joined Coinbase, I accepted that working in this industry would be risky,” Hong wrote on a LinkedIn post. “But on the other hand, I’ve never given more to a company and was reassured as recently as last week that I / my team was safe.”
When Coinbase announced its layoffs, it sent a wave of worry beyond just the crypto industry into the wider tech world.
But recruiters wasted no time commenting on Hong’s post, and others like it, with hiring opportunities at their companies.
While Coinbase was one of several companies that have announced layoffs in recent weeks, recruiters and others involved with tech hiring tell CNBC they’re more outliers than the rule. Even after multiple months of cratering stock prices and inflation in the broader U.S. economy, companies across the industry are still desperate for talent.
Source: NBC
