For decades, the lure of careers within the tech sector has attracted some of the world’s brightest minds. Tech companies historically set the “gold standard” for top workplaces, as employees sought leaders’ cutting-edge vision and the chance to build revolutionary technology. Beyond earning a reputation as a people-first industry, tech also seemed relatively immune from reorganization cycles. However, widespread layoffs have triggered a jolt across the sector and a reckoning among leaders.
When the pandemic disrupted daily life, tech was initially able to grow. Now, macroeconomic changes — inflation, bank failures, and recessionary speculation — have fueled a change in investor sentiment. In response, many leaders have focused on near-term profitability to attract and retain investors, returning to a playbook of restructuring, cost initiatives and workforce reductions. New disruptors alongside long-established players — from Uber and Airbnb to Alphabet and Microsoft — have deeply cut staff.
