While layoffs continue among tech giants, smaller companies are quick to snap up "top tech talent" says Neha Naik, Founder and CEO of RecruitGyan. Naik joined Brad Smith and Julie Hyman to discuss the tech layoff landscape ahead of earnings from major tech companies this week. Naik says those affected by tech layoffs are still able to find a new gig "in a pretty decent time, which is anywhere from six to nine weeks." Naik is also working with companies that are "scaling steadily," who need recruiters' help to navigate a market "saturated" with talent. A.I. also plays a role in the tech workforce conversation, Naik says. Tech companies have been using artificial intelligence to "guide their strategies" when re-organizing their workforce, whether that means cutting jobs or pivoting direction. A.I. is keeping talent acquisition costs down too, Naik adds, helping with prescreening resumes or profiles to make the process "more streamlined and efficient." Microsoft (MSFT), Meta (META), Alphabet (GOOGL) and Amazon (AMZN) are all expected to report over the next few days after a strong first few months for stock performance. Tech has seen a massive number of job cuts so far in 2023, up 5% from the annual total in 2022. According to a report from Challenger, Gray & Christmas, the only year that saw more job cuts was 2001 - the dotcom bubble burst. Key Video Moments: 00:00:30 Bigger tech companies laying off, smaller companies still hiring 00:02:02 Tech companies are "always innovating" 00:02:17 A.I. helps companies in "re-org" 00:02:50 A.I. keeps talent acquisition costs low For our full conversation with Neha Naik, click here. And you can sign up for Yahoo Finance's daily newsletter Morning Brief here. Read More...
While layoffs continue among tech giants, smaller companies are quick to snap up “top tech talent” says Neha Naik, Founder and CEO of RecruitGyan. Naik joined Brad Smith and Julie Hyman to discuss the tech layoff landscape ahead of earnings from major tech companies this week. Naik says those affected by tech layoffs are still able to find a new gig “in a pretty decent time, which is anywhere from six to nine weeks.” Naik is also working with companies that are “scaling steadily,” who need recruiters’ help to navigate a market “saturated” with talent.
A.I. also plays a role in the tech workforce conversation, Naik says. Tech companies have been using artificial intelligence to “guide their strategies” when re-organizing their workforce, whether that means cutting jobs or pivoting direction. A.I. is keeping talent acquisition costs down too, Naik adds, helping with prescreening resumes or profiles to make the process “more streamlined and efficient.”
Microsoft (MSFT), Meta (META), Alphabet (GOOGL) and Amazon (AMZN) are all expected to report over the next few days after a strong first few months for stock performance. Tech has seen a massive number of job cuts so far in 2023, up 5% from the annual total in 2022. According to a report from Challenger, Gray & Christmas, the only year that saw more job cuts was 2001 – the dotcom bubble burst.
Key Video Moments:
00:00:30 Bigger tech companies laying off, smaller companies still hiring
00:02:02 Tech companies are “always innovating”
00:02:17 A.I. helps companies in “re-org”
00:02:50 A.I. keeps talent acquisition costs low
For our full conversation with Neha Naik, click here. And you can sign up for Yahoo Finance’s daily newsletter Morning Brief here.
Read More
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