Tech Majors like IBM, Microsoft, and Cisco continue to lay off despite healthy revenues. The trend spills across the non-Tech sector. Samsung, PwC, and Disney are also shedding their workforce.
Let’s deal with the WHY, HOW it impacts you and WHAT you can do.
WHY IS IT HAPPENING:
Cost takeout has been the key driver along with a difficult macroeconomic environment that has prompted large corporations and startups to slash headcount.
Tech layoffs have crossed the 1 lakh mark in FY25 and will continue to rise. The story won’t be different in other sectors as growth is muted. A recent news said TCS has delayed the joining of lateral hires, a new trend.
HOW IT IMPACTS YOU:
All this creates a difficult climate for professionals. The uncertainty adds fuel to the fire. People who change jobs every year or two will find it even more difficult.
WHAT CAN YOU DO:
1] Try finding growth opportunities in your current firm:
LTIMindtree recently announced that they won their largest-ever deal of TCV USD 200+ million. I am sure it will create growth opportunities for many. Every firm presents such opportunities even in the toughest business environment.
2] Learn to build positive and long-lasting relationships:
Rather than a mindset that you will change your job if something goes wrong, invest in relationships and build a strong ecosystem. Seek sponsorship in your current organization.
3] Build a mindset to deal with uncertainty:
We all are overthinkers, whether we accept it or not. Uncertainty is a major cause of overthinking. Working with a coach who helps you identify blindspots and can drive continuous personal development can make you valuable.
Remember, you cannot control the job market or the macroeconomic conditions. Yet, you are in full control of yourself, your mindset, your strategic thinking and your execution abilities.
YOU can do a lot even in the worst market conditions.
About Transform Ahead®️
As a Career and Leadership Coaching Institution, we support people to reach their full potential. If you wish to know more about our offerings, please visit transformahead.com and book your free Initial Connect Call.
For additional information and inspiration, visit transformahead.com or follow us on LinkedIn, Instagram, YouTube, Twitter and Facebook.
transformahead #coaching #careers
