The outpouring in tech job cuts continues into the new year. Mass tech layoffs continued in January 2023 and are expected to persist throughout the first quarter of 2023. This was the consequence of these same tech businesses overhiring while the world was in the middle of recovering from the financial impact of the Covid pandemic. When the economy took a turn for the worst last year, these tech companies prioritized keeping pay amounts low amid a potential recession on the horizon.
Subtle signs that layoffs are hitting your company
Most companies have job cuts for several reasons, and most of the time these layoffs are not the contemplation of employee performance. Spotting the signs of an impending layoff can help employees to prepare for the worst and protect their job security. Read on to learn about subtle indicators that layoffs may occur soon.
- It’s a red flag if there are whispers of layoffs in the workplace.
Apart from whispers about possible layoffs in your company, examine the behavior of your co-workers and managers. Being left out of an important meeting, not assigning you important projects, and less communication with the manager could be ways to set up your exit
- Your company is suddenly extremely secretive.
If you’ve noticed that your company has become much more secretive recently, it could be a sign that something big is happening – and not in a good way. If people are suddenly getting laid off, your company is going to want to keep it as quiet as possible. If you’re hearing things through the grapevine, that’s usually a sign that something is going on.
- Your projects are being cancelled.
f you’ve been working on a project for a while and it suddenly gets canceled, that’s usually not a good sign. It could mean that your company is running out of money and they can’t afford to keep funding the project. If you’re seeing a lot of projects being canceled, it’s probably time to start looking for another job.
- You’re not being given enough work to do.
If you’re finding yourself with less and less work to do, it could be because your company is trying to save money by giving fewer assignments to employees. This is usually a sign that layoffs are coming because the company is trying to reduce its overhead costs. If you’re in this situation, you should start looking for another job as soon as possible.
- Your hours are being cut back.
If your hours are being cut back, it’s another sign that your company is trying to save money. This is usually done before layoffs occur to reduce the amount of money that the company has to pay in salaries. If you’re seeing this happen at your job, start looking for another one ASAP.
- You’re not being given any new assignments.
If you’re not being given any new assignments, it could be because your company doesn’t think you’ll be around much longer. This is often one of the last things that happen before someone is laid off, so if you’re in this situation, start preparing yourself mentally and financially for the possibility of losing your job.
Of course, these are just a few of the signs that layoffs might be coming. If you notice any of these changes at your company, it’s important to stay calm and keep your head down. The best thing you can do is focus on your work and career and try not to let the rumors and speculation get to you.