Tech layoffs see former workers in high demand elsewhere
ALAMEDA -- Tech layoffs have hit the Bay Area economy hard this year, but there are new signs the job cuts may be slowing down.
The San Jose Mercury News reports tech companies filed warnings for more than 5,000 Bay Area job cuts in the second quarter between April and June.
That's down nearly 50% from first quarter layoffs.
Meta was one of the companies restructuring in the post-pandemic economy, cutting more than 1,000 jobs locally in May with additional layoffs announced in the following months.
CBS San Francisco spoke to one of those laid off Meta employees who has since found a new job, showing that those willing to pivot can find work.
While he's still finetuning his new routine, Hector Garcia is quite happy with his new employment situation, working as a data architect for Abbott at their Alameda campus.
"I've been here for over six months, it's been a really pleasant experience," he said.
He's new at a company for the first time in a long time. Garcia was among those who were laid off from Meta. He was with the company for around 10 years.
"Needless to say, it was kind of a shocking experience. But I guess, it also gives you the opportunity to reassess what you're looking for," he said.
After about a three month job search, Garcia ended up at Abbott, a company specializing in health technology. While he's doing a similar job, he's doing it for a company that has a very different focus than his previous employer.
"I'm certainly doing something a little bit different than what I used to do over there, given the fact of the different culture and companies," he said. "It's been challenging, so to speak, but at the same time, I'm more fulfilled at the end of the day."
Throughout his job search, he found that as major tech companies like Meta, Google, Salesforce, and more, cut thousands of jobs, other companies - some smaller, some in different sectors - were eager to bring in new talent.
Abbott, for example, has hired more than 200 tech-specific employees in the past six months, and plans to hire hundreds more in the coming years, according to a company spokesperson.
"I ended up having times with interviews back-to-back from different companies on some days," Garcia said. "I know the big tech companies are the ones people have most in mind - but there are plenty of jobs out there that are as fulfilling and as rewarding as the one you had over there."
Barbara Rosen, Senior Client Partner for the West Coast Technology Market at Korn Ferry, a global organizational consulting firm, echoed Garcia's point.
"There are jobs, but they might be different jobs," she said. "The clients that I've had that had been caught up in the downsizing, most of them - not all - but most of them have found new jobs."
She says there are many smaller and mid-sized firms that are actively looking to hire people coming from the big tech companies.
"They're growing. They're not downsizing. They have really aggressive goals and so they're picking up some people that you know what, they might not have considered," she said. "They're not well known, they maybe don't have the cache that some of the large firms had, but I think they are benefitting from the downsizing and the talent being on the market."
However, she says some people who were affected by the layoffs will have a tougher time finding jobs that aren't as in demand.
"I do think there are roles that are more difficult. Some of the marketing roles are harder, some of the support-types of roles," she said. "Talent acquisition I certainly think is difficult."
She says while there are jobs out there, it may take longer than people are comfortable with to find the right job for them.
"I do hear from quite a few of the clients that I've worked with from companies that have been laid off. They have told me that one of their frustrations is, they're finding jobs, but they're not paying as much," she said.
Garcia feels for everyone else who also had the rug pulled out from under them as a result of the layoffs, but hopes his experience can provide them with some optimism.
"Don't despair - it's going to get better," he said. "I know this may be a hard time for you. But also, this is also a good opportunity for you to not let the current take you."
A year ago, he wouldn't have guessed he'd be here - at a new job, at a company with a very different focus that he was used to. But even though the road here had its bumps, he's happy with the destination.
"I ended up being in a place where I love to be working at," Garcia said. "That, I think, was worth it."
