'Need for tech talent is still strong' despite seemingly unending wave of layoffs nationwide
RALEIGH, N.C. (WTVD) -- In the fast-growing tech industry, it seems the wave of tech layoffs is unending to some employees in the Triangle.
"There are a lot more people than there are opportunities right now," Yaditshka Lozano said. "I feel OK, but I know that a lot of people right now are feeling kind of scared, don't really know what's coming next, if it's coming to their company."
Pendo is the latest to scale back staff, eliminating 100 positions globally, including 42 in Raleigh. Pendo's CEO and co-founder Todd Olson cited economic uncertainty as part of the move.
Experts said tech companies hired aggressively during the COVID-19 pandemic and are having to recalibrate.
"What happened is tech companies said, wait a second, we need to watch our bottom lines,'" UNC Kenan Institute Chief Economist Gerald Cohen said. "We need to look at our costs and the biggest costs are people."
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However, despite the headlines involving major tech companies, all is not lost for those in the field with skills, according to NC TECH President and CEO Brooks Raiford.
"Tech workers are in high demand," Raiford said. "We're seeing that eight out of 10 of the top hirers of tech talent in North Carolina are actually non-tech companies."
Lozano echoed Raiford and said she's seeing a shift from people working full-time to working as contractors.
"A lot of companies here still have work, people have to get them done, so there has to be a way for them to find jobs," Lozano said. "I think it'll probably take six months to a year but I do think things are going to change or turn around for the good in January."
