Happy And Succeeding In The Future Of Work
Our Weekly Roundup
Recent Large Layoffs Shatter The ‘We Are A Family’ Myth
The belief that a company is a family has irrevocably been busted. When times were good, tech companies offered top talent substantial pay packages, perks and amenities. Now that the economy has shifted, around 119,155 people have been laid off from startups and tech companies just this year, with more losses projected.
Tiktok failed to load.Enable 3rd party cookies or use another browser
Meta Lays Off 11,000 Workers—How To Cope With Being Downsized And Prepare For A Difficult Job Market
In a memo to his workers, Meta CEO Mark Zuckerberg announced he’s laying off 11,000 people, representing around 13% of his workforce. Compared to the chaotic way Elon Musk summarily dispatched thousands of Twitter employees, Zuckerberg came across as contrite, empathetic and apologetic.
Elon Musk’s Twitter Layoffs Foreshadow More Tech Downsizings
Workers in the tech and startup sectors need to brace for escalating layoffs. The current economic conditions will cause tech companies of all sizes to reconsider their hiring policies to stay competitive and solvent. The era of artificially low-interest rates is over. Federal Reserve chair Jerome Powell seeks to significantly bring down the 40-year, record-level inflation rates to 2%. To achieve this goal, Powell said there will be a lot of “pain.” Jobs will be cut and hiring freezes will continue to be implemented. Workers will be closely monitored and put on performance improvement plans, as the low-end producers will be targeted for downsizing.
Tiktok failed to load.Enable 3rd party cookies or use another browser
What You Need To Do To Successfully Bounce Back From A Layoff
The job market abruptly ricocheted from a war for talent to layoffs becoming commonplace. The Federal Reserve Bank’s inflation-fighting measures include raising interest rates, leading companies to downsize employees to cut costs. Downsizings will continue until inflation falls from around 8% to 2%. This may take one to two or more years. Many Americans will, unfortunately, lose their jobs.
How To Hack Into The Hidden Job Market
Job hunters primarily focus on scouring job boards to find their next role. Little do they know, they are missing out on the hidden job market, a treasure trove of jobs that are not posted online. People unfamiliar with the hidden job market feel excluded from a secret stash of exclusive jobs unavailable to the average job seeker.
Why Company Benefits Should Be Audaciously Individualized Instead Of One-Size-Fits-All
Coming out of the pandemic, companies are offering standardized remote and hybrid work styles. However, the one-size-fits-all option doesn’t serve the individualistic needs of workers. A better approach would be to offer customized benefits that people want or need. Workers expect a better work-life balance, the liberty to espouse their political and social views and the resources to help with their mental and emotional health. Tech workers grew accustomed to having amazing amenities, like free food and laundry services, and lush compensation packages that include stock options.
Book Jack Kelly As Your Next Keynote/Guest Speaker
Contact us if you would like to book Jack Kelly for your next in-person or virtual corporate event, seminar or conference.
Media Inquiry
Jack Kelly is available to discuss a broad range of topics, including, but not limited to: the job market, the state of recruiting, trending news stories and career advice. He has appeared on CNBC, MSNBC, NBC, FOX, CBS, BBC and NPR. Jack has been quoted in the the Wall Street Journal, Washington Post, Economist, INC., New York Post and more.
About Jack Kelly
Jack Kelly is the CEO, founder, and executive recruiter at one of the oldest and largest global search firms in his area of expertise. He has personally placed thousands of professionals with top-tier companies over the last 20-plus years. Jack is passionate about advocating for job seekers. In doing so, he founded a start-up company, WeCruitr, at the beginning of the Covid-19 pandemic. The mission of WeCruitr is to help people in need and make the job search more humane and enjoyable. As a proponent of career growth, Jack shares his insider interviewing tips and career advancement secrets as a Senior Contributor for Forbes. He also covers timely topics related to corporations, high-profile people, Wall Street, politics and other important matters. The pieces offer insight into the news and how it may impact your career. Jack is the author of Happy and Succeeding in Your Job Search, as well as the host of Happy And Succeeding In The Future Of Work and cohost of the Blind Ambition podcast.