Business analyst working at her computer

Massive cutbacks marked the beginning of 2023, with some of the biggest names in tech laying off thousands of employees, but it seems like the worst of the cutting is over—for now, at least.

According to layoffs.fyi, which crowdsources tech layoffs, the number of tech employees laid off dipped even lower in June. As you can see from the following chart, we’re a long way from the destruction of January and February:

It’s important to note, however, that companies everywhere continue to cut back on projects and teams. Last month, prominent tech companies reducing their headcount included Stripe, Waze, Robinhood, Uber, Grubhub, and 23andMe, along with a collection of smaller startups.

For those who’ve been laid off from a tech company, other industries are hungry for tech talent, including healthcare, government, and professional services. Even though you might feel like your layoff robs you of any leverage when it comes to negotiating salary, perks and benefits with a new employer, nothing could be further from the truth: you have skills that employers need, so don’t be afraid to negotiate for your entire package. During the interview process, make sure to emphasize how your skills have benefitted your previous companies, and how you can use them to help your prospective employer succeed.

As you proceed, also keep in mind that training in new, lucrative skills can open all kinds of opportunities. For example, mastery of DevSecOps, data architecture, various cybersecurity specializations, or business analytics all translates into higher average pay premiums. If you’re already a specialist in these areas, take a data-based approach to your next job interview and/or raise request; analyze the market and know how much your skills are worth. Tech professionals of all specializations remain very much in demand.