Startups find better access to talent as top tech companies cut jobs, freeze hiring – CNBC

by | Dec 29, 2022 | Jobs

10’000 Hours | Digitalvision | Getty ImagesWhen Briana Bell was looking to switch jobs this year after stints at Salesforce and Snap, her approach to the market had changed from prior years.With layoffs hammering the tech industry for the first time in well over a decade and hiring freezes making their way across Silicon Valley, Bell took a look at her options. She landed on a lesser-known private company called Everlaw, which provides cloud-based litigation software.“I was looking at a few other larger, enterprise-size companies in the San Francisco Bay Area,” Bell said in an interview. “Everlaw was probably the smallest company I was interviewing with.”It wasn’t the first time she’d heard of Everlaw. The company originally reached out to her back in 2019, but at the time she chose to join Salesforce as a senior analyst.Everlaw’s Briana BellEverlawThe environment looks a lot different now.After a decade-plus of unfettered expansion, the tech industry hit a major snag in 2022. Layoffs hit some of the biggest companies, with others implementing hiring freezes. In November, Meta, Amazon, Twitter, Salesforce and HP announced significant cuts to their workforces.More than 50,000 tech workers were let go from their jobs in November, according to data collected by the website Layoffs.fyi. The total for the year has surpassed 150,000.“Given the tech layoffs and lower hiring by the big-tech companies, folks are looking for smaller tech companies to join,” said Christopher Fong, founder of Xoogler.co, a network for ex-Google employees.In the absence of the stability that the largest tech companies once offered, workers are looking to startups and midsize companies that offer greater flexibility and, in some case, the opportunity to have a bigger impact.Bell said the many headlines about job cuts at top companies in the industry played a role as she was considering her options.In looking at startups, she had to have confidence in the business. The meltdown in tech stocks this year and tumult in the broader economy led to a dramatic drop in venture funding and a complete freezing of the IPO market.“I tried not to think a lot about tech layoffs when interviewing,” Bell said. But she admitted, “this is something that’s going to be very important in my job decision process, and I need to make sure the company is in good financial standing and that executives are being pragmatic.”Startup recruiters are busyRich …

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