Like a runaway train, the tech sectors layoff spree shows no sign of hitting the brakes in 2023.
Echoing through the industry like a gong are the layoffs from big tech.
Silicon Valley giants collectively slashed over 104,000 roles last year, and these cutbacks are far from over.
And its not just the giants in the forest facing this storm.
The saplings are bending, too.
StartupsinEuropecollectivelycutover 40,000 jobs between March 2022 and March 2023.
Its high time for Europeans to sound the alarm just not the kind you might think.
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In addition, aDESI reportshowed that European companies had a hard time filling these roles.
Around 55% of enterprises that recruited or tried to recruit ICT specialists said they found it difficult.
If hiring is already painful, firing is even more so.
The global talent bazaar: Can Europe fill its talent gap?
American companies are letting people go, while Europe desperately lacks talent.
Doesnt that sound like a perfect match?
And it gets better.
Global tech talents are showing interest in joining European companies, either by relocating or working remotely.
For decades, European startups have had comparatively limited access to later-stage capital.
While American founders developed and adopted the hyper-growth mindset, European companies learned to survive byprioritising profit.
Compared to their American counterparts, European founders are more cautious.
This, ironically, makes the prospect of joining a smaller startup seem less of a gamble.
