It has been estimated that tech workers have lost approximately 330,000 jobs since last year. There is an outside chance that even more layoffs may come in the future. The tech sector has been in a precarious position due to the ongoing pandemic, which has disrupted its workflow and created an uncertain future for many tech workers. With Twitter CEO Elon Musk taking the first step to become a one-stop shop for all internet needs, companies have been raiding universities for the top AI talent. The AI arms race has forced technology organizations to be more competitive in their recruitment tactics. More recently, advertisement technology company Permutive has announced a second round of layoffs, which will affect 80 workers, or 40% of the company’s staff.
In addition to the glum news surrounding the layoffs and recruiting, Elizabeth Holmes, the founder of Theranos, has been denied bail before her trial and will have to report to prison. Meanwhile, Youtube TV contractors at Cognizant are found to be in the midst of a union fight, where employees are said to be partaking in “captive meetings” to fight organizing.
On a lighter note, it appears that Chinese car maker BYD has released a video of its Yangwang car model that can jump, bounce, and even dance. Unfortunately, the reviews on Sony’s official Pulse 3D wireless headset for the PlayStation 5 have been less than ideal.
The tech industry is highly competitive and growing quickly, with companies competing for market dominance and the most talented employees. But the recent news of layoffs, recruiting struggles, and denied bail requests is a reminder of the high stakes involved in this industry. It is important for tech workers to stay informed on the ever-changing landscape and master the skills that remain in-demand for the future.
