Coping with layoffs

Yesterday’s news of significant layoffs at Meta, combined with headcount reductions at Twitter, Lyft, Stripe, Snap and others are painful for everyone in the tech industry. It is especially hard on those impacted, especially just ahead of the holiday season.

Though the tech industry has shown resilience during downturns over the last couple of decades, layoffs have always been the dark side inherent to the risk-taking nature of the tech industry. The difference is that layoffs previously mostly affected smaller startups—not major behemoths like Meta and Twitter. Seeing these giants stumble could make anyone nervous about the steadiness of the tech industry. And with the economy as a whole on such unstable ground, there’s good reason to be concerned.

But there are also some bright spots for job seekers. Job openings continue to remain high, even as the economy has faltered. There are plenty of companies in Silicon Valley that are competing for talent, especially in engineering, product, data, and design. Fable is one of them. I can attest that these companies are excited by the prospect of hiring talented people laid off from Meta, Twitter, Snap, and others. In the tech industry, people recognize that layoffs do not necessarily reflect on an individual’s capability or potential.

Being laid off is a major life change, and can be disheartening to say the least. Here’s my advice for folks who have been laid off, or are undergoing any other major career challenge:

• Don’t let your job loss become an identity crisis. Losing the security of a job is always scary, but you’re going to be okay. Your skills, experiences, and expertise define you, not your title at one specific company.??
• Take some time (if you can afford to do so). If you’re financially able—and ideally, your layoff package ensures that you are—this is a great time to take a step back to think about your career, your lifestyle, and your goals. It’s rare that we’re afforded the luxury of thinking about the big picture of our careers without day-to-day tasks clouding our thinking. Take advantage of this time to consider what you love about your current life and what you don’t, and how you can pivot your career to better focus on what you love.
• Upskill and reskill. If you realize the career path you’re on isn’t the one for you, this is a great time to look into opportunities to learn new skills and reorient towards a new field. There are a wealth of courses, degrees, and certification programs available for mid-career professionals. If you feel generally positive about the path you’re on, this is a great time to work on adding skills or certifications to your resume that will make you even more competitive in the job market, and potentially get you to the next rung in your career ladder. Fable offers affordable courses designed to help you upskill and network—check them out, if you’re interested.
• Reach out to your network. Former coworkers, college friends, that person you always chat with at conferences—now is the time to reach out and let them know you’re available and looking. Don’t be shy about asking for introductions, referrals, and recommendations. People feel great when they’re able to help another person—science has proven it. So in a way, you’re doing them a favor. ;)
• Sharpen your resume and interview skills. Do you have an updated resume? If not, start working on it. Don’t make it just a list of the jobs you had and schools you attended. Write your resume to tell people what you are good at, but also talk about what you wish to learn.?

Major life changes are always scary, but if you approach a layoff with the right mindset, it can be a great opportunity for reflection and growth. And if you’re looking for a job in engineering, product management, or design, and want to work at a mission-driven company that puts people first, send me a note. :) Good luck out there.