Big technology companies are laying off staff as market conditions change.
The move follows a hiring blitz initially triggered by the uptick in pandemic-powered remote work — according to Bloomberg, businesses are now cutting jobs at a rate approaching that of early 2020. For example, in November 2022 alone, companies laid off more than 52,000 workers. Companies like Amazon and Meta also plan to let more than 10,000 staff members go over the next few years.
As noted by Stanford Graduate School of Business Professor Jeffrey Pfeffer, part of this push to cut positions stems from a bursting bubble of business valuations. Pfeffer makes it clear, however, that in many cases, the cause here is imitative behavior. When one company starts laying off staff, others follow in what he calls a “social contagion”.
Regardless of the underlying reason, many skilled IT professionals now find themselves out of a job. But it’s not all digital doom and gloom. There’s one tech sector that’s still struggling to find talented staff: Cybersecurity.
Here’s why making the move to infosec may be a smart career move for former big tech staff.
The Growing Need for Infosec Experts
According to data from Cyber Seek, more than a million IT professionals are currently part of the cybersecurity workforce. This number has been steadily growing over the past few years. Despite the uptick, however, there are still more than 750,000 open cybersecurity positions across the country. In states such as Florid ..
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