Can you handle layoffs in 2023? How to be Prepared? | Amazon Goldman Sachs Layoffs | Pavan Sathiraju
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Layoffs have hit the corporate world pretty hard just in the beginning of 2023. Starting with close to 1000 layoffs at Amazon and 500+ layoffs at Goldman sachs 2023 has begun with a disastrously note. If you want to get a job in 2023 or avoid Layoffs 2023 then this video is for you. In this video, I’ve covered what is happening in the corporate world and its impact on the job market. The recent layoffs are an effect of multiple problems faced by corporates in quick succession.
A lot of late stage startups such as Byjus are seeing their valuations drop. When late stage startup’s valuation keep dropping the value of stock options held by the employees also drops. Typically stock options constitute about 15-20% of their salary. Since the value of this 15-20% of their salary is decreasing, employees are looking for other opportunities and actively moving out. Companies such as Amazon and Goldman sachs hire from best colleges such as IITs and IIMs in India. Because of this due to layoffs in these companies, a lot of high quality talent has entered the market.
Recruiters are happy to take these talented and competitive folks at a lower salary. This is why you may not get the salary you deserve. Companies like TCS and Infosys are also coming up with their quarterly results showing their employee utilization is low. This means these companies which traditionally used to hire many employees are not going to hire more people now.
If you’re still going on Naurki.com or any other similar website to get a job, you’d be competiting with a lot of folks who are job hungry and more employable than you. This is why you need to try unconventional methods of landing a job. First of them that I’d highly recommend is LInkedIn. You should establish your brand presence on LinkedIn. You don’t have to post every single day, but at least you should get started with posting and interacting with folks from your industry on LinkedIn.
Second is upskilling. If you are wondering how to save your job or how to protect your job, then this might be a good bet. This will help you figure out how to avoid getting fired by bringing more value to the table and offering unique solutions. Upskilling helps you get ahead of competition and ensure that you can get a job in 2023 or avoid getting fired from your current role, upskilling will help a lot.
Lastly, you must develop structured thinking skills. You must improve your structured thinking skills if you want to get into a new industry and make yourself more employable. Market predicts that by the end of this year, situation might get better. If you want to go for higher education, this is the right time to pursue it, Hope you found this video helpful, please let me know in the comments which other topics you’d like me to cover.
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Chapters
0:00 - Intro
0:29 - Video points
0:38 - What’s happening in corporates?
1:33 - Why you won’t get a deserving salary?
2:02 - TCS and Infosys not hiring
2:28 - Unconventional job application
3:00 - Use LinkedIn
4:45 - Upskilling
5:48 - Structured thinking
6:34 - Summary
7:26 - Outro