These are the signs to tell you if a layoff is on the cards at your company

By Aoibhinn Mc Bride
19 April 2024 | 15 Shares

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Whether you work in software development or as a product manager, tech workers of all descriptions have suffered the same fate in recent years: mass layoffs and the looming fear that more are on the way.

In 2022 and 2023, 165,269 and 263,180 tech workers respectively were laid off from just over 2,000 companies.

This year isn’t faring that much better with 74,591 tech workers and counting experiencing job losses from 257 companies so far.

The important thing to point out is that while layoffs aren’t ideal, they aren’t the end of the world, nor are they any reflection on your ability, work ethic or the value you bring to the workplace.

However, it’s also important to note that it’s always a good idea to be as prepared as possible if layoffs are looming so below we’re outlining some of the most common warning signs you should be aware of.

Budgets are being slashed

From hiring freezes to salary and bonus freezes, if you become aware that your company is scaling back on spend, it could be a sign that they are trying to reduce costs and layoffs are on the way.

Your manager may not want to discuss the reasons behind this with you, but asking for a performance review is a good way to decipher where the company’s finances stand in relation to remunerating its employees. Bottom line: if you’ve smashed your targets and hit your KPIs yet there’s no money on the table, your time at that company could be limited.

New projects are being postponed

If a project you’ve been working on suddenly gets canned, it could be because the company is looking for ways to reduce spend, particularly if the project isn’t guaranteed to generate revenue straight away.

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While changes to business objectives can also impact on the lifecycle of a project, if great ideas that could generate revenue in relatively quick terms are being overlooked, it could be a sign that bigger problems are on the horizon.

Vacancies aren’t being filled

Forget ghosting in a dating context. Ghost job postings are one of the most recent scourges on the job hunting scene and happen when companies want to appear as if they are in growth but have actually implemented hiring freezes to cut costs.

Another way to spot a ghost job listing is if vacancies across the company when people leave aren’t being filled as this can also hint that restructuring is on the way.

Whether you’re worried about being laid off or are weighing up your career options, the good news is that thousands of tech companies across the board are hiring at pace. Below we’re detailing three that are actively recruiting but you can find many more on the Tech HQ Job Board.

Software Developer – AI Trainer (Contract), DataAnnotation, Salt Lake City

Are you looking for a flexible role that will allow you to work remotely and choose your own hours? DataAnnotation is hiring a Software Developer to train AI chatbots to code.

For this role you will need to be proficient in at least one programming language and able to solve coding problems (think LeetCode, HackerRank, etc).

For each coding problem, you must be able to explain how your solution solves the problem. Projects are paid hourly, with bonuses for high-quality and high-volume work.

If this sounds like the opportunity you’ve been looking for, get further details here.

DevOps / Cloud Engineer, KBR, Springfield, VA

KBR is seeking a DevOps/Cloud Engineer to support government customers in the Washington metropolitan area by providing software development and technical expertise to support and enable customer goals.

As such, you will work closely with the scientists and engineers to identify manual and analytic tasks for automation, the scientists and engineers to identify manual and analytic tasks for automation including code and script generation, code testing, support to code security accreditation, and documenting.

Interested? Apply here.

Software Engineer Lead, PNC Financial Services Group, Strongsville

PNC offers a wide range of financial services and is currently recruiting a Software Engineer Lead to create and lead the technical design and development of software solutions. Working within the team technology group you will be based in Pittsburgh, PA, Cleveland, OH, Birmingham, AL or Dallas, TX and provide technical support and guidance to colleagues.

You will also review coding, testing, and documentation of software and apply modern principles, methodologies and tools to advance business initiatives and capabilities.

You can find more information about this position here.

Thinking about your next career move? Head to the Tech HQ Job Board today to discover thousands of open roles