How To Survive Tech Layoffs (5 Actionable Steps)

Getting laid off from a job is a terrible thing.

In 2023 we had a total of 260,000 layoffs in tech. This year we've had about 74,000 workers laid off from 255 companies.

But there are some actionable steps that you can take in the event that you get laid off that will help you recover faster.

In fact, there are steps you can take beforehand to position yourself such that an unexpected layoff doesn't hinder you at all.

In this video, we'll discuss these steps and tools to have on hand.

Timestamps
00:00 Tech layoffs
01:15 Become un-lay-off-able
01:57 1 - Savings
04:31 2 - Let the world know
06:08 3 - Your network is big
07:44 4 - Stop being a bum
08:57 5 - An opportunity

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[fruitypebblez]

What annoys me is when a company lays off, they will on the same day post jobs for the positions they just eliminated.

[albirtarsha]

Job security is the ability to find another job.

[MnemonicCarrier]

I got laid off, sold up everything (apartments, a house, couple of cars, laptops and desktops etc), moved abroad (to my wife's country of origin), built a hotel. Have NEVER looked back!

[Jinran]

There is no such this as being unlayoffable. If a company wants you out, you're out. The best thing you can do is have an emergency fund, upskill, update your resume, improve your interviewing skills, and network. I do not agree with a 3 month emergency fund. In this job market, depending on the industry, it is taking job seekers up to a year to find a new job. I personally feel that anyone in tech needs to have a 1 year emergency fund. I am in fintech and I personally have an 18 month fund.

[DevOtionSynthax]

Been unemployed since Jan 2024, hundreds of applications submitted and only around 5 intro (recruiter) interviews, it sucks...

[captnoplan]

Great tips. Esp the one about the willingness to do lower paying jobs. I see so many posts saying they used up all their savings and now they are desperate. Don't let it get to that point and have the willingness to work lower paying jobs.

[tonoshiki]

I cannot find a job for almost 2 years. I used to be a cpp programer for 14 years. Im chinese live in china all the time.

[saifulalam]

Was laid off 6 months ago. I found your video inspiring. Thanks

[AqibMughal-xgjx]

that's it for the one's who lost their job. but now please make the video for the ones who got skills but not getting a job even an entry level job

[ChadSigma]

From pre covid levels of interest rates, it took fed 1 year to hike interest rates to current levels.
The rates have been stable since the last 1 year.
Even if fed starts reducing rates right now, it will take them 2 years to get to pre covid levels, meaning that, there won't be any meaningful upside in the number of jobs for the next 1 year.
Another thing is, people are over working due fear of layoffs and poor budgets, hopefully this doesn't become the new normal.

[AdamFiregate]

"Let the world know" is a bit of handicap advice. They will view the person as needy. Making it in public makes even a bigger problem.

[yugalkishor]

how to get a first job without degree, currently working with my father as plumber.

[witblitsfpv]

Wouldn't posting about your layoff give any potential hiring company the upper hand in salary negotiations?

[JohnNiesyn]

Some of the best career advice I've ever heard, and I've been working for almost 35 years. And, what's more, it applies to many careers, not just those in tech. Youngsters: this is some of the best career information you'll ever receive, and it costs nothing.

[cloudhobbyist]

The stop being a bum section is real. Their are way too many proud people who think they're above jobs that pay less. All that needs to go out the window when a family is involved.

[ubergeekin]

You should be putting your emergency fund into a money market account. All you have to do is open a brokerage account and set a default position. Current money market accounts are earning 4.95%-5.25% and they are not exposed to the market. A bank savings account will never yield this type of interest.

[dogecl]

I wish I had this video a year ago. The company laid off developers, HR, and sales... and now they are hiring again (for less).

[vincentnnyc]

my best way is to build up that F U money. if my company decides to lay me off. i'm gonna go into early retirement with my F U money.

[rockpadstudios]

I try to tell every one that will listen that nobody gets hired because they were loyal. You get hired because of your skills. Sure if you move on in 6 months/year that's a red flag but 3-5 years is normal now. Save for a rainy day - rainy days will come sometime in your life.

[fjorge]

Companies now a days are savages. They don’t care about employees anymore and will never will. Always be prepared. Always keep looking for other options. Don’t ever feel comfortable at a job!!!