Are tech layoffs end of the world?
My work visa is tied to my current employer, which happens to be Meta. If I lose my job at Meta, I’ll need to find a new employer to sponsor my work visa or leave the country. This is assuming that I can’t find a new job within 2 months of being laid off. The same is the story of 100k+ non-immigrant tech workers in the US who have been affected by the recent layoffs at almost every big tech company[1].
One can argue that 2 months should be enough to find a new job. In fact, when the layoffs happen, the big tech companies usually give you a generous severance package that keeps you on their payroll for a month or two. Which means that a typical laid off tech worker gets about 4-5 months to find a new job. That should be enough, no? Well, in normal circumstances, the answer would have been a yes. But in the current market where most big tech companies have a hiring freeze, it becomes tricky. And on top of that, the handful of open positions you do find, now you are competing with 100k+ laid off tech workers. Sounds scary, no?
I have lots of friends working at Amazon, Google, Meta, etc. And I personally know of people affected by the recent layoffs. In November 2022, Meta kind of started the layoff trend, at least amongst the big tech companies. 11k employees were let go. I somehow managed to survive that round. But there are going to be a few more rounds of layoffs as recently announced by Meta. Will I survive them all? Only time will tell.
The constant stress of the unknown can be challenging to most Homo sapiens. Will you keep your job or not by the end of May 2023 can be scary, to say the least. The stress takes a bigger toll on some than others. I was recently talking to a close friend of mine who is scared to death about being laid off from Amazon and is struggling to sleep properly at night. His entire family depends on him financially and he sends money back home every month. No wonder he is dejected at the idea of losing his job. A quick look at Blind[2], an anonymous professional community, and you’ll find hundreds and thousands of such people talking about how depressed and anxious they are feeling at the prospects of having no job and being forced to leave the country. To be clear though, these are smart people. They can find other suitable jobs provided they have enough time in their hands. But given the current economy and the rising interest rates, not many big tech companies are hiring. And some smaller companies that are looking for people to join them might not be willing to go through the complicated process of hiring an international worker who requires work sponsorship.
All this made me think about myself and how am I doing right now? Am I scared or stressed at the prospects of losing my job if Meta decides to lay me off at the end of May 2023? The honest answer is yes, I will be sad. I would have liked to leave on my own terms and not be pushed out. But what does that truly mean? Will I go into a depression and start questioning everything else that is going on in my life because I lost my job? The honest answer is no, I think I’ll be fine.
Growing up in a middle class family back in India, I didn’t think of being in the US and living the life I live now. Yes, it’s a privileged situation to be in. Working for Meta, arguably one of the best tech companies out there isn’t something I had envisioned for myself. Did I work hard to be where I am? Undeniably yes! Did luck play a part in my journey? Absolutely yes! You see, I didn’t choose to be born in the family I was born in nor did I get to pick my biological parents. I just got lucky with that. I happened to be born in a really stable and loving family that supported me throughout my childhood and my professional career. And boy, did I have a great childhood? You bet I did. But did I do anything to deserve that other than just being born where I was born? Nope, I didn’t. And this is what I mean by luck playing its part.
If I get laid off in May 2023, I know I will be okay. I am a healthy individual with an amazing family and a great set of friends. At the same time, I am also skilled and confident enough to find something else to do. Yes, there will be added pressure to find a new job within the stipulated amount of time but what is the worst? I won’t find a job and move back to India. Will that be so bad? I don’t think so. Who knows that it might even be a blessing in disguise and I’ll finally be able to work on starting my own thing without worrying about the work visa situation in addition to being close to my wonderful parents. Having said that, it doesn’t mean that I want to be laid off. It just means that if I do, I’ll be fine. For me, it has always been the people who bring happiness and joy over anything else including any job at any tech company paying any amount of dollars. And I am truly and immensely grateful for all of the amazing people in my life 😊
I recently read a quote that stuck with me:
“Sometimes when you're in a dark place, you think you have been buried. But you've actually been planted.”
With that, I wish good luck to everyone out there hoping to survive the layoffs. You got this, with or without being laid off!
References:
https://layoffs.fyi/
https://www.teamblind.com/