#layoffs #jobinsecurity #careerconcerns
Do any other industries experience layoffs like CS?
I’ve already experienced multiple and I’m only 5 years into this industry. I have a relative that’s a nurse and I don’t recall her ever being laid off in over 25 years since she started working. How the hell am I supposed to buy a house and finance a 30-year mortgage if I’m constantly worried whether I’ll even have a stable job for the next 5-10 years? This is concerning 😞.
Understanding the Layoff Concerns in the CS Industry
Layoffs in the Computer Science (CS) industry have become a common occurrence, leaving many professionals feeling insecure about their careers. The tech industry is known for its fast-paced changes and market fluctuations, which often result in layoffs due to various factors like economic downturns, company mergers, or shifts in technology trends. Unfortunately, these layoffs can leave individuals feeling uncertain about their future job prospects and financial stability.
Practical Solutions for Dealing with Layoffs in the CS Industry
1. **Diversify Your Skills**: To combat the uncertainty of layoffs, consider diversifying your skill set. By learning new programming languages, acquiring certifications, or exploring different aspects of the tech industry, you can increase your employability and adaptability in the face of layoffs.
2. **Networking and Building a Strong Support System**: Connect with other professionals in the industry, attend tech events, and engage in online communities to expand your network. Having a strong support system can provide valuable resources and potential job opportunities during challenging times.
3. **Save for a Rainy Day**: Start building an emergency fund to prepare for unexpected layoffs. Having financial security can alleviate some of the stress and anxiety associated with job insecurity in the CS industry.
4. **Consider Freelancing or Contract Work**: Explore alternative job opportunities like freelancing or contract work to diversify your income streams. These options can offer more flexibility and autonomy in your career, reducing the impact of layoffs on your financial stability.
5. **Stay Updated on Industry Trends**: Keep yourself informed about the latest trends and developments in the tech industry. By staying ahead of the curve, you can position yourself as a valuable asset to employers and increase your chances of job security.
In conclusion, layoffs in the CS industry are a reality that many professionals face. However, by taking proactive steps to diversify your skills, build a strong support network, save for emergencies, explore alternative job opportunities, and stay informed about industry trends, you can navigate through the challenges of job insecurity and build a more stable career path in the tech industry. Remember, you’re not alone in this journey, and there are practical solutions available to help you overcome the uncertainties of layoffs in the CS industry.
Oil & Gas has similar boom/bust cycles. All of tech is taking a beating at the moment. Prior to all of the wars defense and aerospace were taking a beating as well but that seems to be on the upswing currently.
In general crisis is visible also in other markets, but Nurses have unions and in general they are organised, in cs we thought it won’t be needed because we are so special and our great corporations will always pay us and treat us good. In situations like now, and soon even more, because of AI, we will see how stupid it was.
Advertising and media
Gulfstream lays folks off all the time here in Savannah and also pays better so people come back to them when things pick back up.
Let me tell you about Real estate, circa 2009…
Yes, of course other industries experience layoffs.
>How the hell am i supposed to buy a house and finance a 30 year mortgage if i’m constantly worried whether i’ll even have a stable job for the next 5-10 years?
A layoff doesn’t mean you’re out of the industry. If typically just means you’re unemployed for a relatively short amount of time. The one time I’ve been laid off in ~10 years has amounted to a whopping 1 month of lost wages. But to answer your question: by living below your means and having a healthy emergency fund.
stability is not a thing in CS
Not sure why you would compare it to someone in healthcare. Also how many is multiple? And when did they occur? Lots of people got laid off because of COVID. There was too much uncertainty at the time to keep a ton of people employed. And then the last two years have been rough for tech companies. So it makes sense for us to be laid off. I can understand if you got laid off like 2-3 times. But if it’s more than that’s very abnormal. If you want a stable job in the cs industry, work for non tech companies.
All markets are susceptible once saturation is reached or automated.
CS is just starting now to see what an actual non-bubble market is like.
No idea if there’s any truth to this but some data scientist friends were pretty doom and gloom as well.
Domestic manufacturing. Especially big 3 automotive. Factories get halted or shut down all the time.
Yes, also in farma we had a big layoff cycle, and I think just as with you guys in CS we feel that a bit more since there was a lot invested the past years with corona. The whole thing is cyclic. Interest rates are low, enough money to lend and spend, inflation rises, interest rates rise, less money to lend and spend. So to cut losses or maintain profits massive restructuring takes place. Whole projects are scrapped and it takes years to recover from that, at least at our firm where they scrapped like 90% of our R&D departement and are only now finding out they lack manpower to keep that what is left running. We can only hope inflation goes down so they will start bringing interest rates down again and they can start restructuring loans and get new ones so investments go up again. Mind you, the days of negative interest rates are over. No such thing as free money.
healthcare isn’t really the same as any other industry, especially in the US where it’s this weird pseudo-private system that’s still ultimately backed by tons of government spending. we end up with a scenario where many careers in the industry have near public sector stability and private sector pay. plus with boomers (a bulge on the population pyramid) being 60+ we’re currently experiencing what’s probably peak demand for healthcare for the foreseeable future
Pretty much any job in which you work for a for-profit company and aren’t in a union is going to be vulnerable to layoffs. Lots of jobs other than software engineer fall into that category
Of course, plenty of industries go through growth and contraction. You didn’t hear about the financial crisis?
As for buying a house, you shouldn’t until you are sure you can survive for a year without a job. In HCOL areas buying a house isn’t worth it anyway. It’s better to rent.
I am a former SWE and current airline pilot. The airlines also go through pretty big swings every 10ish years and most people I know got laid off from aviation during COVID.
The current downturn is affecting tech in particular because of how much recent growth was fueled by low interest rates, but it’s called a “richcession” because it’s tough for anyone in the top 10% of earners. Layoffs and long job searches are far from unheard of in other industries but the last time I said that someone accused me of being a college student so idk how much I trust people here to have some kind of balanced view
Healthcare is recession proof in the US thanks to SAD(Standard American Diet).
No every other industry is only ever booming and it’s just CS
Almost every industry has some level of instability at some point. My sister was a retail manager for years and often experienced “reduced workloads” and store closures. She would be managing a store and all of a sudden, the company would decide to close that specific store and she would be out of a job.
Before I switched careers, I was in the mental health field and every single year my job was at risk because of grant funding. Every single year, regardless of what job I had, there would be a huge team meeting about how the grant funding didn’t look good. Things like that rarely make the news. Nobody cares that such and such non-profit lost their grant funding and now poor people don’t get additional help and now all the employees are without jobs.
The difference now is that I have been able to actually save money for emergencies whereas in the mental health field, I was never able to save anything because I was barely scraping by.
So, yes, many career fields experience instability.
Hahahaha dude
I’m in Pharma and layoffs are pretty common. Boom/bust like tech.
Everyone gets laid off at one point. No one is gonna tell you they got laid off in real life.
Domestic Automotive – lots of layoffs and outsourcing.
Pharmaceuticals – mostly layoffs due to outsourcing or losing patents
Healthcare administration and insurance – layoffs due to overstaffing, technology, outsourcing…
Financial tech – layoffs due to technology changes, outsourcing, contracting…
Healthcare proper – contracting, title creep, reimbursement cuts, provider network changes…
Etc etc.
When you say “CS is having layoffs” that is not exactly what is happening. Tech companies are having layoffs but its not only SWEs that are getting laid off. Its also recruiters, project managers, HR, accounting, etc in those companies. Often times the SWEs are not the biggest category of those let go.
Tech companies have boom/bust cycles and many job categories are effected. By contrast, healthcare does not have the same type of boom/bust cycles.
You can’t compare healthcare with tech, it’s infinitely more stable
Same in most other industries. Search for “hospital closure” and you’ll see nurses are not immune either.
Mortgage
Nursing is a terrible comparison as that field is one of the most stable field, with the demand always in unfulfilled. The barrier for entry is higher too (bachelor degree is a MUST). You cant self study to become a nurse. People without a degree can go to CS if they are determined enough, like me.
Demand for nursing also increases as the population grow and age, and that’s almost certain.
I should know these myself as I came from nursing and moved to tech.
Just think of cs as a job that is majorly dependent on the economy. And most jobs actually are the same to a different degree.
There’s a reason we’re highly paid, and it’s not because we’re all so smart (people from nursing are smarter IMO), it’s just that when the economy is good, there’s so much money floating around, and also demand for us increases. And when the economy is bad, there’s less for us.
Sick people dont care about the economy, they will still be sick. As long people exist, nursing demand will always be there.
I work in tax and it is really stable, especially after you get your CPA, and you can hop to any industry.
Cs is in all types of industries me confused
Yes
Finance! If you want some real fun, work in a hedge fund where the entire company can blow up in 45 minutes.
I make double of my nurse sister-in-law. I don’t need to clean up shit all day. I’ll take the risk.
>How the hell am i supposed to buy a house and finance a 30 year mortgage if i’m constantly worried whether i’ll even have a stable job for the next 5-10 years? This is concerning
I hate to tell you this, but there is no safety in selling your labor for money under capitalism and as soon as you realize that and start thinking in terms of calculated risks, the better off you will be.
More stable jobs tend to come with significantly less pay.
Your best bet is to always earn as much as you can and spend as little as you can, leaving yourself a buffer.
Healthcare, from what I have observed, is the exception and not the rule. Most industries experience layoffs. Healthcare jobs are more in demand now due to a variety of factors, including the aging Boomer population. It’s also a very high stress occupation relative to the pay and requires a lot of very long shifts (my mom was an RN) depending on the setting.
Bio-tech is getting slashed as well right now.
Acting/entertainment is probably more unpredictable, but I think those people who try to get into that industry know that?
HR
I know a few people in journalism. That career is absolutely dead. It was already downtrended quickly before AI arrived on the scene. AI delivered the finishing blow.
Yes. Every company is under pressure to make money. When they can’t they lay people off. Doesn’t matter if you’re at Amazon or Sports Direct.
Public sector is different partly because they have strong unions. Maybe consider joining a union.
Finance and accounting does.
Pretty much every top company does thia in every industry. Those stable long jobs are at mid size companies
layoffs are constant across all of corporate america. why would CS be different? only difference is tech people tend to make a lot more money than other people laid off.
Banking usually stays steady. Main industry I wanted to get into. Took 1.5 years to get in
Ye man even worse, people in cs don’t realize that it is one of the most stable field in tech. If you are in any other department in a tech or remote digital stuff, your head is on the line.
Most other industries have gone through periods of layoffs like CS has. The primary difference was that theirs were usually permanent.
Biotech is even worse because almost all the companies are actually all unprofitable and doomed to fail in the first place since it costs nonsensical amounts to get a product to market and biology has such inherent unpredictability that investing in it is essentially like investing in bitcoin.
It’s entirely typical for non-Union industries.
Heavily unionized, non-government industries have fewer layoffs, but more massive layoffs / closures all at once when they do.
Government-funded, non-defense industries tend to have fewer outright layoffs, but looooooong periods of wage stagnation and budget uncertainty.