The tech industry has always been been one with many ups and downs. When things are going well, companies hire rapidly and pay well to attract the top talent.
When the sector is hurting, these same companies are quick to lay people off to prepare for the worst.
This year has been a challenging one for many people, and companies throughout the tech industry have been laying lots of people off.
In the past, people who got let go from a company would try to find a new role at a different company, or even change industries to keep a paycheck coming in. Today, however, there are more ways than ever to earn a living, even if it doesn’t all come from one place.
One prime example of this was shown when Nina McCollum, a marketing writer who was let go from her position, gave an interview with SFGATE. In it, she discussed some of the things she has had to do to make ends meet since being let go from her position with a tech related company.
When looking at replacing her old job with another good opportunity, she is not optimistic. In the post, she said:
“My chances of obtaining another great-paying FT job are next to zero.”
There are many reasons for this. First, she has already worked in the industry for many years.
At 55-years old, many companies are hesitant to hire (even if ageism is illegal in most places). She commented on the situation, summing it up saying:
“They want someone young and cheap.”
While she, and thousands of other people, are not giving up on applying for the few good jobs that are out there, many are turning to the ‘gig-economy’ to help put food on the table and gas in the tank.
Most people are familiar with the gig-economy, with jobs including things like giving rides through Uber, delivering food through DoorDash, and much more. Some people even go as far as to sell their plasma (a part of their blood), which pays between $30 and $70 per donation.
This is definitely not the way most people hoped that their careers would go, but for many, there is little alternative.
At least while waiting for the job market to recover, many people who were making excellent salaries in the past are just scraping by thanks to these (often low paying) gigs.
Hopefully tech companies start hiring again soon.
If you think that’s impressive, check out this story about a “goldmine” of lithium that was found in the U.S. that could completely change the EV battery game.