Layoffs.

This word seems to be headlining most news today. Whichever industry or sector you come from, this is a real economic crisis.

In Singapore, technology firms have reported an estimated 1,270 layoffs from July to mid-November, almost five times the 260 resident workers laid off in the first half of 2022.

Shopee Singapore recently has executed a few cuts, citing widening losses and slower revenue growth, affecting as many as 7,000 employees globally. On the other hand, Carousell has laid off 110 employees, representing 10% of the total headcount.

While significant, this number is still smaller than the 11,000 jobs cut by Meta (formally Facebook) and the 10,000 jobs Amazon plans to cut.

However, not all is gloom and doom. Mobility in the tech space has proven beneficial for both businesses and employees. Continually pursuing growth creates a dynamic environment where perspectives are challenged and new ideas are devised, which are crucial for improvements.

According to Channel News Asia, there is also the observation that employees affected by layoffs are not fighting to take up their next job in haste; some are taking the time to find themselves and figure out what motivates them and which direction they want their careers to take flight in. Others who are spared from the layoffs are even considering their long-term goals.

Dear reader, if you are one of those affected by the layoffs, our hearts are with you, and we hope you can find time to recharge yourselves and even seek personal growth. 🌿

Nonetheless, whichever stage of your career, we’re here to empower and support you in landing your dream job. Check out our job offers here!

Till next time!
Bao of Wantedly ❤️