The tech industry usually leads the way up when it comes to growth. Lately, though, it has been laying people off at a much higher rate than the rest of the economy.
HR giant Challenger, Gray and Christmas said while the overall economy has seen a 6% rise in layoffs since this time last year, the tech industry has seen 535% more layoffs.
"I think a lot of it does have to do with growth that happened during the previous couple of years, especially during COVID," said Audrey Guo, a business professor at Santa Clara University. "Tech grew much faster than other industries."
Get Southern California news, weather forecasts and entertainment stories to your inbox. Sign up for NBC LA newsletters.
The tech industry is now shrinking faster. But despite thousands of layoffs at big companies like Meta, Twitter and DoorDash, Guo said Bay Area techies probably won't be jobless for long.
"They're probably not going to be long-term unemployed," Guo said. "They have a lot of potential job options."
The best way to find a new tech job? Follow the money. The venture capitalist money.
"These startups will be excited to have someone with that in their resume," Job.com co-founder Arran Stewart said.
Venture capitalists are still funding tech startups who will use the money to grow.
"The $100 billion invested by VCs into tech companies in America, they are hiring people," Stewart said. "They won't pause."
But while small companies grow, another bit of good news from all of this
