Roos Reitsma’s Post

The tech industry undergoes layoffs as part of a pruning phase to optimize operations. Here's what you can expect for the remainder of this year.

It's not over... In January there were almost 30,000 layoffs in tech. Do you have a plan B? Do you have a plan C? Times have changed, and having a full time job today no longer means you have security. When I was laid off in 2019 and again in 2021, I didn’t have a backup plan other than to find another job. But that’s not always so easy. Sometimes you can go months of looking for a job and barely land an interview. Harsh truth: employers have the upper hand, and while they might care about their people’s wellbeing, they care about their own wellbeing more. Having another stream of income is not an option anymore, it’s a necessity for financial security and survival. If you’re a marketing professional and you want more control over your financial wellbeing, I'll be launching my new course “How to Start a 6-Figure Marketing Business in 8 Months” in March. You'll learn: 1. The uncapped revenue business model to surpass your current salary 2. The entrepreneurial mindset to set yourself up for success 3. The secret to scaling while only working a 15 hour work week 4. Powerful lead generation strategies that work for YOU 5. How to win your first clients fast Join the waitlist! Link in comments -->

38% of business leaders think layoffs are likely at their companies in 2024. Are you as safe as you think? Here's a list of companies that have already laid off hundreds to thousands of employees (or are planning on it) in 2024: • eBay • Intel • Google • Amazon • Discord • Microsoft • BlackRock • SalesForce • Unity Software • Rent The Runway Odds are, you know someone who has already been affected by layoffs in 2024. It's difficult. And sometimes, it's unavoidable. But financially being at the mercy of your company is avoidable. This is a perfect example of why learning a skill is so critical. If you spend the time to learn a skill like trading before you need it... You'll be adept at it by the time you do need it. Don't live at the mercy of your 9-5. At the mercy of the economy. At the mercy of someone else. Take control. Learn a skill. Insulate yourself. Don't wait until you need it. Start today. -- (Sources: ResumeBuilder & Business Insider.) • This is not investment advice and is for educational purposes only • All views are solely mine and not that of my employer

So far, tech layoffs in 2024 aren’t quite as bad as the wave we saw at the start of 2023. But that’s little consolation for the huge number of talented people affected by the cutbacks. Anyone who’s found themselves suddenly jobless knows how overwhelming it can be. So, we put together a checklist to help. Our goal? Help you stay organized amidst the emotional and financial upheaval. The more in-control you feel, the easier it is to identify what’s next and take the first steps toward your future. https://lnkd.in/dGm6fKgi

The news about Microsoft's Gaming Division laying off 1,900 professionals stings more than most, considering the size and market cap of the company. This also reminds me of a conversation I just had with Erick Barnes and the reason why he wants to make sure his company stays independent, which not only will afford him the freedom to foster creativity, but to take better care of his people. This race to make the highest profit possible completely blinds us to the ones that will ultimately be affected. I would love to think that there is no other choice these companies can make and that layoffs are the last resort, but it is impossible to validate this while at the same time those companies continue to post record profits. No one needs $100+ million to be able to live comfortably. A living wage that doesn't have you living paycheck to paycheck while working alongside other talented individuals on something you are passionate about is what most people ask for. There is no amount of money that's worth destroying that dream for the 1,900+ laid off today, or the hundreds of thousands laid off in the last year.

For those impacted by layoffs - hang in there. I've been there too (and not just with Microsoft). If I could talk to my younger self at that moment - I would say this: You are loved and respected. You are a great mother and parent. This experience is devasting and your soul may feel ripped out. Allow yourself to feel anger and frustration and sadness because they are real emotions that have to crash over you. While you are still alive, you cannot go back to your old self, your old job, your old identity. Embrace the new you that will triumphantly emerge from the pain and disappointment so that you can reveal your stronger, compassionate, and beautiful self as a role model for your kids. Breathe. Take one task at a time. And after you attend to the chaos inside- talk to your friends and family (that's why they are on this world). They will, in their own way, support and love you. You are not alone. Breathe. Take one task at a time.

What can founders learn from tech layoffs in 2024? This year, tech layoffs have been massive, crossing 70,000 in April 2024, affecting giants like Google, Apple, and Intel. As people returned to normal life after the pandemic, tech product use dropped from its highs. Tech layoffs are now common for companies that admit to overhiring during the pandemic. Strategic cuts are being made in areas with reduced investment, and smaller companies are trimming to survive. Here are key lessons for founders from these layoffs: 1️⃣ Focus on sustainable growth and better avoid over-hiring. 2️⃣ Be ready to make tough decisions for long-term health. 3️⃣ Keep a close watch on finances. 4️⃣ Cut projects that don’t align with your core mission to drive innovation in critical areas. Last but not least, auditing your business will not only allow you to cut costs but also simplify operations, giving the way for growth and innovation in key areas.🛠️ 📩 Book a time for a consultation in DM! 👉 Follow me for more insights and tips!

On Friday, Business Insider published an article titled: "The full list of major US companies slashing staff this year, from IBM to Google and Microsoft" - with over 30 companies listed with projected layoffs for this year. If you think you're safe from Corporate Layoffs - I've got some sombering news for you 🫣 Tired of the corporate world, knowing the system doesn't care about your growth or security, AND you have a passion for fitness? Entrepreneurship may be better for you to achieve the stability and security you deserve. Start your journey from Corporate to Coaching here: https://lnkd.in/eMGB67QV

2023's tech layoffs were a wake-up call. To thrive as an engineering team, you need to prove your worth in dollars and cents in 2024, but how? Whether you're in a vertical product team or a horizontal platform team, your success will depend on showcasing your business impact. The challenge is that it’s really hard to quantify that if you are not directly facing customers. For years, teams in verticals like R&D, Marketing, Supply Chain, or Finance, working on systems or applications, didn’t have much problem in booming markets. There were ambitious executive visions toward cloud, data, ML, AI or whatever transformation hype present at the time. As long as there were small, agile teams working on promising stories, you could maintain a stable position. This was true even if you were not able to show how your technical wizardry translated into solid business outcomes. It's been the same case for horizontal platform teams developing next-gen data or AI solutions. They worked on multi-year, multi-stream projects, connected with customer groups, reviewed the requirements, created visionary roadmaps, and build and released things here and there. But the question always remained, although ignored for a long time: How do you quantify your contribution in actual revenue? For these teams, traditional OKRs focusing on number of users or the artifacts they serve, or technical outputs miss the mark. They don't speak the language of profit. It’s time to shift gears but what's the strategy? - Work with the business teams you serve to create a shared strategy, roadmap and OKRs. - Align your goals with theirs, making your product or platform a non-negotiable part of their success story, and this goes both ways! - Ensure that your work is not just an isolated technical feat but a key driver of some of the business growth. - Secure your position in the company’s future. - Break away from being a cost center; become a profit generator. That's how you will survive in today’s cutthroat tech landscape. --------------------------------------- If you enjoyed this post, I'd be more than happy to hear your thoughts, and also see you like and share this post with your network. Let's make the most of the week ahead till next year! ☀

"With over 38,000 tech layoffs already in 2024, now is the time more than ever for newly displaced tech workers—and those worried about losing their jobs—to transition into entrepreneurship." Here is what I gathered: 1. 5.5 million Americans filed applications to start new businesses in 2023—the strongest year on record 2. AI could replace 12 million more workers by 2030 3. Eighty percent of small businesses are run by a single person with no employees. 4. Technology has evolved to the point that even the smallest business owners can leverage advances affordably to supplement gaps in knowledge and skills. 5. Focus on your core skills instead of trying to be an expert in everything. 6. Have faith in your own abilities. Read full article here: https://buff.ly/4bX4dOi