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Find the Right Hiring Manager on LinkedIn in 30 Seconds

Tech layoffs up 122% from last week; From Ramen Noodles to Riches; hiring rates are way down

 -THIS WEEK- 
  • ⚡️ Quick Tips - Find the Right Hiring Manager on LinkedIn in 30 Seconds

  • 📊 Job Market Data & Trends - Job Openings Are ⬆️ But Hiring Rates Are ⬇️

  • 📉 The Layoff Report - 122% tech layoff increase from last week - Salesforce, PayPal, Block, Microsoft, and many others

  • 📖 Featured Book - From Ramen Noodles to Riches: A Sarcastic Guide to Financial Independence

  • 🛠️ Tools & Resources - Peerlist, Presence, and Rosebud

 -QUICK TIPS- 

⚡️ Find the Right Hiring Manager on LinkedIn in 30 Seconds

Use this template below when searching on LinkedIn where you put the job title that you are looking for inside of ““ then ‘AND’ then “hiring”.

"[insert job title]" AND "hiring"

For example: “Product Designer” AND “hiring”

Then on the search results page, filter by ‘Posts’ at the top and you will find yourself in an endless list of hiring managers saying “PICK ME PICK ME” for the role that you want.

Here’s the YouTube short that goes over this tactic:

 -JOB MARKET DATA & TRENDS- 

📊 Job Openings Are ⬆️ But Hiring Rates Are ⬇️

Here's the lowdown from the December 2023 JOLTS Report! 📊 Despite a strong end to the year for the US labor market, there's a bit of a twist in the plot. While job openings are up, with a whopping 9 million unfilled positions 🚀, the hiring rate is playing hard to get, trending lower than we'd like.

The silver lining? Layoffs are still rare, and job stability is looking good. But, the spotlight is on the hiring rates, especially in healthcare and social assistance, where there's been a noticeable dip. 🏥💔 Yet, with job openings soaring 25.6% above pre-pandemic levels, it's not all doom and gloom. The stage is set for a labor market that's moderated but resilient, offering a beacon of hope for job hunters. 🌟

Key Takeaways:

  • 🌈 Job openings are up, with 9 million spots waiting to be filled.

  • 📉 Hiring is a bit shy, especially in healthcare and social assistance.

  • 🛡️ Layoffs are rare, making job stability a current trend.

  • 📈 Job opportunities are still plentiful, echoing last year's strong labor market vibes.

 -THE LAYOFF REPORT- 

📉 This List is Unacceptably Long

So far in 2024:

107 tech companies have done layoffs
29475 employees
Up ~122% from last week 🤕

Notable Layoffs this Week

  • Nasdaq plans to cut hundreds of jobs as it begins integrating software firm Adenza into its business months after closing the acquisition, Bloomberg writes.

  • Block has begun laying off workers after announcing the cuts last year, CoinDesk writes. The layoffs could affect up to 10% of the fintech company's 13,000 employees.

  • PayPal is cutting about 9% of its workforce this year to drive growth, Bloomberg reports. The layoffs will affect roughly 2,500 people.

  • American Airlines is laying off 656 customer service and baggage resolution employees as it attempts to "streamline" its customer support systems, Bloomberg writes. The cuts will affect 8.2% of the airline's customer support personnel.

  • UPS is laying off 12,000 employees in response to weak demand and higher union labor costs, Bloomberg reports.

  • Freight forwarder Flexport is cutting 20% of its workforce this year, The Wall Street Journal reports, or about 500 employees.

  • Warehouse logistics firm Flexe laid off 99 people this month, or 38% of its staff, The Wall Street Journal writes. Last September, the firm laid off 131 workers.

  • Uber Freight let go of about 1% of its workforce as it focuses on "growth mode," The Wall Street Journal says.

  • Roomba maker iRobot is laying off 350 people, or around 31% of its staff, after Amazon abandoned its planned acquisition over regulatory concerns, CNBC reports.

  • Microsoft has laid off 1,900 Activision Blizzard, Xbox and ZeniMax employees, or about 8% of its 22,000-person gaming division staff, The Verge reports. The software giant completed its acquisition of Activision Blizzard for $68.7 billion last fall.

  • Jamf, an Apple device management software company, is laying off 6% of its full-time employees in order to cut costs, 9To5Mac says.

  • Salesforce is laying off 700 people, The Wall Street Journal reports citing anonymous sources, one year after it cut 8,000 jobs from its roughly 70,000-person workforce.

 -FEATURED BOOK- 

📖 From Ramen Noodles to Riches: A Sarcastic Guide to Financial Independence

Why doesn't school teach us about personal finance?

Whether you're still in school, working full-time, or just curious about personal finance, this ebook is a playbook for you to easily understand the most important concepts in personal finance, and how to actually apply them to your life.

In From Ramen Noodles to Riches, you will learn to:

  1. Leverage your main financial accounts (checkings, savings, credit cards, and brokerage) to maximize your money system.

  2. Invest with ESPP, HSA, and Retirement Accounts (401k, IRA) with detailed instructions on making your money work for you.

  3. Analyze various real estate strategies and the step-by-step process to acquire your first property.

 -TOOLS & RESOURCES- 

🛠️ Peerlist, Presences, and Rosebud

Peerlist

The Professional Network for people in tech. Join Peerlist for the most beautiful professional profile, community of people with ability, and credibility, and much more!

Presence

MEET LOCALLY, EXPLORE GLOBALLY.

Find creatives and like-minded people nearby and around the world.

Rosebud

Rosebud is an AI-powered daily journal that provides personalized feedback and guidance as you write. It's like having a conversation with a mentor who really gets you and keeps your best interest in mind.

As Rosebud gets to know you - your life, goals, challenges, relationships - it evolves beyond a journal and into an active partner in your personal growth.

 -COMMUNITY- 

Join a Network of Job Seekers 🥳

The Offboard Community offers an alternative to LinkedIn, providing a unique space tailored for job seekers in tech. It’s not just a platform for networking; it’s a resource designed to help you regain your footing and advance in your tech career, supported by the knowledge and experiences of your peers.

Below are some of the community features:

  1. Create an anonymous account or join as yourself

  2. Discussion or ask for help re: layoffs, interviewing, resumes, money & finance, upskilling, and more!

  3. Jobs: Find or refer jobs, and engage in our live job chat space

  4. Watercooler Chat: Just looking for a general place to chat with other job seekers? Jump into the Watercooler.

  5. Join Virtual Events (Coming Soon)

 -FEATURED PARTNER- 

Curious if your company has a layoff planned?

Look into the crystal ball to see if your company has a layoff coming up by leveraging federally mandated WARN notices!

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