As we start month four since the Indeed layoff (for those laid off by other companies, your timeline likely varies), we’ve reached a pivotal moment where the severance package provided will begin to run out. On the face of it, this sounds like only bad news, and for those who are still job searching, there is minimal upside. But there are a few positive signals. First, you should be eligible by the end of this month for those who haven’t been able to get unemployment up to this point. While that won’t replace previous full-employment income, it certainly helps. Secondly, if it feels like the layoffs have slowed, the data backs that up. Comparing Q1 to Q2’s layoffs, there were over 70% fewer people laid off in Q2 than in Q1. That’s significant progress, although, unfortunately, there were still another 45,000+ people laid off in Q2, so we still have a ways to go to get back to complete hiring. All in all, there are enough positive signals of a slow-down and a turnaround coming to gain confidence and bolster our faith that the jobs will come back.
Returning from our family vacation in Europe, I’ve had the chance to tour several churches, cathedrals, and temples, which has me thinking about that faith. Much of my faith is rooted in my experience in the tech industry’s history for the last 20-plus years. I started my career in the final throws of the dot-com bust, weathered the housing bubble burst while at a startup in 2010-2012, and now I’m experiencing the tech downturn of 2022-2023. I’ve seen various technology pendulums (thick client vs. thin client, server-side or client-side, Java or anything else) swing between their various endpoints and back again. I still have faith that software is a great place to be. There is still so much opportunity to bring software to many spaces, so many new markets to be created by software startups, and so much more. I expect this downturn to spawn many new ideas, products, and markets that will be exciting to watch over the next three to five years.
Looking Back – Faith in the mission, leadership, or the company?
While at Indeed, I had faith in the mission (we help people get jobs), the products (moving closer to the hire), and the leadership team. When the layoff happened, most of that trust was shattered, not just for me. Over 2200 people were directly impacted by the layoff. Beyond that, everyone at Indeed and their families were affected, putting the number of impacted people beyond ten thousand or more. While I’m no longer at Indeed and can’t do much to help restore the trust, this article on Forbes has several good suggestions for building that faith back. (4 min read) This is excellent advice for repairing a relationship after damage, and it almost all works proactively, too, so I’m putting this in my back pocket as I look at new leadership positions.
Looking Forward – Faith that you’ll find love again
The quote that starts this article on Todoist hit me hard (7 min read):
Most people work long, hard hours at jobs they hate that enable them to buy things they don’t need to impress people they don’t like. — Nigel Marsh
The tangible suggestions on improving your love of your work were practical and approachable. I can even see myself applying some of them to unemployment.
Today’s Tip
It’s time for a layoff playlist. I haven’t made one yet, although many are already out there: Apple Music, Spotify, or create your own (here’s a starter list.) Having good music to listen to during the day while you’re job searching or just relaxing can make all the difference between high and low-stress days.
Fun Stuff
Final Words
If I can help with your search, please get in touch with me. Please give me feedback on what you like or don’t care for in this newsletter, and I’ll adjust. For total transparency, I have no affiliation with any of the tools, companies, or resources I share. These are my impressions, not tainted by any outside influences.