: Microsoft will lay off 10,000 workers. If you get fired from your tech job, what should be your next move?

by | Jan 18, 2023 | Stock Market

Being let go from a job is hard, especially at a moment when the cost of living is rising and a recession is looming. This year, tens of thousands of recently laid-off tech workers are already asking themselves: “What’s my next career move?” Tech companies are facing strong headwinds. Microsoft Corp.
confirmed plans on Wednesday to lay off some 10,000 workers, equivalent to around 5% of the company’s global workforce. Before that latest announcement, more than 25,000 global tech sector employees have been laid off in the first few weeks of 2023, according to data compiled by the Layoffs.fyi website.

Other recent layoffs in the tech sector, include Shopify Inc.
Peloton Interactive Inc.
 and Coinbase Global Inc.
Approximately 60,000 people in the tech industry were laid off last year, according to Challenger, Gray & Christmas. Last November, Tesla founder
Elon Musk fired nearly 50% of its 7,500-strong global workforce — just days after taking over the social-media company in a $44 billion deal.  The following week, Facebook’s parent Meta
announced it would lay off 11,000 employees, equivalent to 13% of the social-media company’s employee base. Amazon
also plans to lay off 10,000 workers, or about 3% of its white-collar employees, and signaled that there may be more cuts this year.

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