Some tech workers are taking a closer look at startup jobs now that big companies are cutting back on hiring or signaling a slowdown is coming.
More than 50,000 tech workers were let go from their jobs in November, according to data collected by the website“Given the tech layoffs and lower hiring by the big-tech companies, folks are looking for smaller tech companies to join,” said Christopher Fong, founder ofIn the absence of the stability that the largest tech companies once offered, workers are looking to startups and midsize companies that offer greater flexibility and, in some case, the opportunity to have a bigger impact.
Bell said the many headlines about job cuts at top companies in the industry played a role as she was considering her options.this year and tumult in the broader economy led to a dramatic drop in venture funding and a complete freezing of the IPO market. “I tried not to think a lot about tech layoffs when interviewing," Bell said. But she admitted, "this is something that’s going to be very important in my job decision process, and I need to make sure the company is in good financial standing and that executives are being pragmatic."Rich Liu was hired as Everlaw's chief revenue officer shortly before Bell joined. Liu previously had the same role at TripActions, a high-valued startup that provides travel software.
“From where I sit, we’re really seeing this market shift could usher in a heyday for startups acquiring top talent, particularly for ones like us that are maturing," Liu said. "It’s been a big-tech talent loss but startups’ gain.” Recruiters told CNBC that the tech job market remains competitive, even if workers are entertaining fewer offers at a time than they were in recent years.
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