Opinion
Mass tech lay-offs herald Great Redistribution of talent
Staff shed by Silicon Valley giants should be quickly absorbed outside the bubble, where chief technology officers of businesses are still struggling to hire enough tech workers.
The Lex ColumnThe tech boom has receded to little more than an echo of late. Falling stock prices, an abrupt downturn in digital advertising and fears of a recession have sparked waves of job cuts across the sector. Meta has laid off more than 11,000 employees, or 13 per cent of its workforce, in the latest example of the painful retrenchment.
Yet chief technology officers of businesses outside the Silicon Valley bubble are still struggling to hire enough tech workers. Staff shed by tech giants should be quickly absorbed elsewhere. The Great Rotation should be followed by a Great Redistribution of talent.
Financial Times
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