Newsletter: July 27

Will the tech layoffs affect me?

July 27, 2022

TECLA connects the best tech talent in Latin America with the best remote-ok technology companies in the U.S., Canada, and Europe. If you want to upgrade your career, keep reading!

Recession, layoffs, hiring pauses

  Yes, those are scary words right now. But rest assured, there is always a silver lining. Keep reading.  

  • Many geopolitical crises. This, of course, includes Russia's war in Ukraine. The results so far? Spiraling inflation.

  • Plenty of tech companies experienced a booming period during Covid, and now they cannot sustain and increase the growth they saw between 2020 and 2021.

  • Many tech companies rely heavily on debt to finance their operations. Higher interest rates make it more difficult for them to service their debt.

  Lesson #1: Keep learning.

It's a great time to keep practicing your English skills and maybe take a second look at your LinkedIn profile and update your CV. We have a great CV builder available on our platform. Make sure you take advantage of it.

  Lesson #2: It may have slowed down, but the Tech Industry is not stopping any time soon.

For many companies, the layoffs are a time of re-evaluation. The truth is that the tech market continues to become more and more important. This is a wake-up call for companies to realign goals.Make sure when applying to investigate more about the hiring company. This is a practice that not only will set you up for success in your interviews, but it is also a way for you to empower yourself and choose a company you consider to be more stable. We like using Crunchbase for insights.

  Lesson #3: This is the time for Latin American Tech Talent.

If Covid gave us a silver lining for our industry, it's that it made the remote work ideal a reality. Tech companies from the U.S. and Canada started to pay more attention to Latin American tech talent, and we are not surprised. The talent pool is diverse, extremely educated, with outstanding English skills and similar time zones. The attention is still on LatAm and is not going anywhere. Even with layoffs, we continue to service companies searching for talent in our region.

This is a time to learn, investigate before making a move, be thoughtful, polish your CV and apply, trusting that your talent as an IT professional from Latin America continues to be highly demanded. We have an upcoming free online event covering these topics; keep reading to register.

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