layoffs to Impact
I don’t deny the fact that there will be layoffs in 2023 because of recession. In a recessionary situation, the first thing that any company would want to do is to cut cost and re strategise it’s business.
– Candidates performing job roles that are no longer contributing to the revenue of the company or are no longer profitable, will be layoffs.
– With the advent of new technology, several job roles become obsolete. Candidates performing those job roles will be laid off.
However, there is a GOOD NEWS!
In order to improve productivity and to stay in competition, companies will keep adopting new technologies like AI, ML, IoT.
When a company adopts new technology of layoffs –
On one hand, several traditional job roles become obsolete,
On the other hand several new job roles are created. (Here is the catch)
HOW TO SURVIVE OF LAYOFFS 2023 RECESSION AND SECURE YOUR JOB?
– Learning new Skills is the key. If you learn Skills around new technologies, you will stay RELEVANT in the job market. When companies adopt new technologies, they hire candidates to fill the new job roles that are created.
– In future, hirings will be skill based and not degree based.
– If you learn Relevant Skills, even if you lose your previous job, you will easily secure a job in newly created job roles.
– There is always a demand for Skilled Candidates.
– New technology cannot replace humans. However, if humans work in synergy with the new technology, it can significantly increase productivity.
The majority of layoffs at the beginning of 2022 came from startups, according to Lee. But in late 2022 and early 2023 it started to creep into bigger tech, as well. Lee also said that layoffs like those seen at present a unique opportunity to recruit a caliber of talent that would’ve previously been impossible to attract.
Lee said he believes companies will slow down layoffs “when, and only when, it becomes clearer that the Fed is able to slow down inflation.”