Companies cutting jobs in September

There are a lot of people on the market now due to an increasing number of layoffs. Here are some of the things I’ve learned when my job search mode went from “lukewarm” to “HOT”.? I hope some of it is useful :) Some of these are worth expanding on a bit, let me know what’s interesting or if yall would like more detail on any of these. 1.) Don’t panic. Your skills are rare and valuable to someone. This is not a platitude, it is the truth. If you act out of panic, you will not interview well. 2.) You need to figure out both pieces—what skills and what “someone”.? This process is all about convincing someone else that you’re the right solution to their problem. You need to figure out what problems you can or want to solve. Sometimes your skills sell themselves. You are lucky. The rest of us have to do Marketing. 3.) Some recruiters spend a ton of time on LinkedIn — use the OpenToWork tag on your profile, and start posting content relevant to the role you want. Your goal is to show up in their feed with your profile flair. 4.) “Spend a ton of time researching each role you apply for, customize your resume, and don’t apply for too many” is probably the wrong advice for most people below a certain level. It’s certainly the wrong advice for most IC roles. 5.) Recruiters are busy. Be easy to work with. Return calls. Answer email. Follow up. The recruiter is a facilitator, not your secretary. There are services that will handle all of this for you. They are not free, for a reason. 6.) Use tools like trello to manage things at a high level. This will help you follow up when you haven’t heard back for a few days. 7.) For each conversation you have, keep a separate, written set of notes. I used something like this (See below). I keep handwritten notes, and summarize after each conversation. 8.) Use the job description to frame your first call. There’s always a “tell me about yourself” question. Use your answer in this question to address specific things in the job description. 9.) You will get the question “what are you looking for in your next role”. Use the bullet points in the job description to guide your answer. 10.) When talking to anyone, you *need* to ask something like “What’s your biggest pain point” or “Why are you hiring for this role” — it’s *starts with* the job description, but you need to have this opinion from a few different people. Use this evolving understanding of the role and the mandate to inform your conversation. In some sense, you’re rehearsing for the last conversation, which is typically the hiring manager or someone high up in the company. That’s (*usually*) the one person who can veto you. If you impress that person early, your first few months on the job will be way easier. Happy hunting yall :) #hiring #work #opentowork #interviewing #interviewingtips

Yesterday, a #CEO of a software consulting company reached out to me. He was looking for quick advice as his company had to lay off 10% of the workforce. He had never done anything like it before, he was scrambling and sweating. It’s a call I wished I never got. This is what I proposed in the 25 minutes we had : ?Eliminating all bonuses, promotions, and dividends until company performance is stable again including everyone in the C-suite. Protect employees first. ?Give laid–off employees priority status for new job openings when a company's performance is stable again. Work with your HR and the talent team to have a strategy in place. ?Providing as much support to laid-off employees to help them find a new job elsewhere. Call your golfing and beer buddies NOW. ?Remember the community of survivors- for those employees remaining, how you treat those who are leaving will be important. ?Don’t rescind offers for future starts. Factor them into your math. ?Reform company strategy to try to prevent a similar situation from happening in the future. ?Don’t ever do it again. What else would you add? It's time to Unmute. #CFO #CIO #leadership #layoffs #laidoff #HR #employees #workplace #mentoring #coaching #unmute #unmuteyourself #unlearnwithPriyanka

I was keeping up with my favorite TV shows over the weekend and this particular scene from Star Wars' #Andor made me pause and reflect. "Build your exit on your way in" I think it is a good rule for people in the workplace to keep in mind. Especially now that layoffs are becoming a staple of daily corporate news. The days of "safe and secure jobs" are behind us. Don't be caught off guard. Build your exit on your way in. #layoffs #workplace

A lot of people are jumping ship and switching jobs right now. According to this latest study, one third of people who switched jobs did it to get a higher salary. ?? But they might be setting themselves up for a risky future... It's no secret that the fastest way to increase your pay is by moving to a new job. BUT, with a recession looming, I'm not sure that's the best move right now. Layoffs are looming. As we all know, the last ones in are usually the first ones out. Here's why: - Recent hires haven't proven their value yet - Recent hires are the most expensive in terms of salary - Recent hires haven't created strong relationships yet It's okay to jump to a new job for a bigger paycheck, but consider the risks before you do so and weigh the risk appropriately. ?? What do you think? Is the risk worth the reward? Here's the full LinkedIn study: https://lnkd.in/gt_AXZq6

Being in high demand has a.downside. With the good pay and seemingly endless stream of unsolicited recruiter contacts comes a trend in tech to cycle through bloating and dumping teams. Stability is further disrupted by the fact that, for developers and tech pro’s, the best way to get an increase has been to jump ship. In a scary economy, people in the industry have a good chance of finding work if let go, better than many fields anyway. But that’s of little comfort to those layed off just as student loan payments are about to resume. If you work in tech, I suggest you budget to a contingency savings fund, and stay current on areas of tech that are in short supply.

The Great Resignation has given way to The Great Apprehension. More than half of U.S. companies?actively reduce headcount or plan to?in the coming months. As a result, layoff anxiety is palpable among workers.? As an executive coach, I have an inside view into the trepidation rippling through the workforce and how it's affecting performance and mental health. Take my client Janice, an accomplished VP of client experience who told me, "Every day feels like a waiting game. I live in fear of the morning when I check my email and discover I’ve been locked out.” If the uncertainty of looming layoffs is hanging over your head, how can you proactively confront and?manage?your anxiety? My latest for Harvard Business Review walks you through practical steps to take: he author offers strategies for managing your mind when facing layoff anxiety: 1) Separate fact from fiction The stories you tell yourself may not always reflect reality, so monitor your inner dialogue. Examine what evidence you have that points to the likelihood of a layoff and whether or not you’d be impacted. 2) Take constructive action Speak to your boss to ensure you're on high-value projects. Reconnect with your network and spruce up your resume. 3) Deploy defensive pessimism Imagine the worst case scenario. Anticipate how you’d deal with obstacles such as your finances, health care, and finding a new job. 4) Rally your resilience Reminding yourself of how you’ve confronted and risen above adversity in the past is a well-proven resilience strategy. 5) Invest in self-complexity. Remember that your identity is more than your job. Diversify your sources of self-esteem. #layoffs #quietquitting #selfconfidence #jobsearch

A thought for anyone who wants to chime in, I’m curious what this means to you. We now have 80,129 tech layoffs in the first three quarters of this year, the bulk of them coming in quarter two (38,453) and quarter three (31,847), and the third quarter still has half a month left. Compare that to the first three quarters of 2020, the start of the pandemic, in which we had 79,440 tech layoffs, almost all of them in Q2 with 60,122. (Source: Layoffs.fyi) A lot going on, not all of what I’m saying is related to layoffs, but isn’t everyone short staffed and can’t find employees, yet unemployment is at the insanely low 3.7%? Is the outlook more bleak when the majority of layoffs are spread out over two quarters versus just one quarter like we saw during the pandemic? Commodity prices have sunk but house prices remain relatively unchanged (see picture, sourced from Reventure Consulting https://lnkd.in/gfx82xf6). Cap rates at 4.5% vs the six month treasury yield at 3.7%, it’s nearly as profitable (and less risky) for investors to look to bonds instead of real estate. What does all of this mean to you? Is a crash, either economic, housing, both, something else, imminent? There are a bajillion and one facts and data to look at, and my wife is tired of listening me talk about this stuff, I wanna hear what anyone else makes of this! For fear of not being unconsciously biased on the subject, share what you know, I’d love to look into your take whether I agree with it or not! #realestate #data #tech #caprates #houseprices #investors #layoffs #unemployment

A thought for anyone who wants to chime in, I’m curious what this means to you. We now have 80,129 tech layoffs in the first three quarters of this year, the bulk of them coming in quarter two (38,453) and quarter three (31,847), and the third quarter still has half a month left. Compare that to the first three quarters of 2020, the start of the pandemic, in which we had 79,440 tech layoffs, almost all of them in Q2 with 60,122. (Source: Layoffs.fyi) A lot going on, not all of what I’m saying is related to layoffs, but isn’t everyone short staffed and can’t find employees, yet unemployment is at the insanely low 3.7%? Is the outlook more bleak when the majority of layoffs are spread out over two quarters versus just one quarter like we saw during the pandemic? Commodity prices have sunk but house prices remain relatively unchanged (see picture, sourced from Reventure Consulting https://lnkd.in/gfx82xf6). Cap rates at 4.5% vs the six month treasury yield at 3.7%, it’s nearly as profitable (and less risky) for investors to look to bonds instead of real estate. What does all of this mean to you? Is a crash, either economic, housing, both, something else, imminent? There are a bajillion and one facts and data to look at, and my wife is tired of listening me talk about this stuff, I wanna hear what anyone else makes of this! For fear of not being unconsciously biased on the subject, share what you know, I’d love to look into your take whether I agree with it or not! #realestate #data #tech #caprates #houseprices #investors #layoffs #unemployment

Layoffs seem to be accelerating even in light of many job openings. Shocking to hear that 44% of companies surveyed are rescinding or plan to rescind job offers while another 14% are considering rescinding job offers.