But experts say the impact has been somewhat mitigated by an industry realignment that’s led to significant hiring even as thousands of positions have been cut.
Two years of wrenching tech layoffs have weighed down the Bay Area’s job market in a big way — but experts say the impact has been somewhat mitigated by an industry realignment that’s led to significant hiring even as thousands of positions have been cut.
“Many companies over-hired during the pandemic,” said Bajarin. “Questions are arising about the overall economy, with inflation, interest rates and so forth.” During the dot-com era, countless dot-com companies beguiled investors with visions of profits conjured by business plans that in some cases were simply bad ideas, and in other cases were somewhat ahead of their time. The ensuing massive layoffs jolted Silicon Valley and the rest of the Bay Area.
But other companies, and even some of those laying off workers, are hiring, meaning matters are far from hopeless, even for displaced tech workers.
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