Tech companies committed to expanding their workforces in 2015 may have a robust candidate marketplace to consider. In 2014, overall layoffs reached the lowest rate since 1997, though layoffs in the tech industry rose 69 percent over 2013, according to a report by Challenger, Gray & Christmas Inc. In total, 59,528 tech professionals were left looking for new jobs.
A large portion of that number, experts say, is due to massive restructurings at Microsoft and Hewlett Packard. Both companies made efforts in 2014 to become leaner with less excess overhead in the payroll department. With projections that tech hiring will spike in 2015, this means competition could heat up for companies looking for quality IT.
Layoffs can be temporary setbacks for professionals that lead to exciting new opportunities. Castaways from major software and electronics corporations can help a firm meet its innovation goals. Experts in cybersecurity, cloud based technologies and systems integration may be surprised by the number of openings they find in the new year. And while 2014 was a messy year for tech staffing, figures from the general economy show that employment is on the rise.
"Layoffs aren't simply at pre-recession levels; they are at pre-2001-recession levels," Challenger CEO John Challenger said in a release. "This bodes well for job seekers, who will not only find more employment opportunities in 2015, but will enjoy increased job security once they are in those new positions."
In total, employers across sectors cut 32,000 jobs in December. With low gas prices and improving outlooks on long-term economic development, 2015 will see major movement in the IT sector, as individuals rebound from layoffs. The transitional year should fortify workforces in tech and innovation.