🎉 100k layoffs in this industry

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💻 100k layoffs in this industry

🧑 They’re hiring like crazy

📝 Resume tips & tricks

And, of course, MEMES!

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LAYOFFS

100k Layoffs in Tech

Less than halfway through the year, layoffs in the tech industry are about to pass the 6 figure mark (via Layoffs.fyi).

Wowzas.

Tesla, Apple, Google, Microsoft, and ByteDance (TikTok) are among the 344 tech companies that have cut jobs since the start of the year.

Analysts say the massive layoffs reflect a trend of big companies trying to increase efficiency after excessive hiring due to the pandemic.

Tech layoffs have slowed slightly since the bloodbath in the first three months of the year.

There have been about 43k layoffs in tech in Q2 compared to 57k in Q1.

100k jobs in the first half of 2024 is only half as bad as the 200k tech layoffs we saw in the first half of 2023.

So, it's better than last year, but still not great.

Despite the slowdown, it looks like the tech industry may be stuck in rough waters through 2025.

According to PwC, 40% of executives are planning for major restructuring and layoffs at their company in the next 12-18 months.

AI was cited as the reason for 800 layoffs in April, which is the highest total to date since Challenger began tracking job cuts due to AI in May of 2023.

HIRING

This Industry is Rushing to Make Hires

According to a report from Axios and the Financial Times, there is an “unprecedented” scramble to hire workers in the defense industry.

Lockheed Martin, Northrop Grumman, and General Dynamics have nearly 6,000 roles to fill. Another 10 major companies have roughly 37k roles to fill, increasing their combined workforce by nearly 10%.

The defense industry has been battling tech for talent over the last decade, and especially since the pandemic, according to McKinsey & Company.

With the massive tech layoffs expected to continue, US-based and global defense companies are planning to aggressively recruit former tech workers.

But they also have plenty of open roles with no experience required!

Defense companies like Lockheed Martin have already begun offering apprenticeships, increased work flexibility, and streamlined security clearance processes to help with recruiting.

Government agencies rolled out incentives, such as bonuses for cyber talent, to attract and retain workers.

Job seekers often make the mistake of looking for specific roles at specific companies; a better strategy may be to look for industries that need talent and narrow the search from there. 

It looks like the defense industry will be a goldmine for the next 12 months, especially for job seekers with experience in the tech industry!

TIPS

How to Write a Better Resume Summary (From Former Google & NVIDIA Recruiter)

Current HR consultant and former Google and Nvidia recruiter Stefanie Fackrell certainly knows how to spot a resume that will catch hiring managers’ attention.

According to her, the most important piece is the professional summary at the top.

Here are her top 3 tips to impress hiring managers right away:

1. Start with a line about what kind of work scenario you’re looking for.

For example: remote, hybrid, or on-site work. Typically, the job description will include this information, so it’s important to make sure the professional summary matches.

Including this simple first line will give the recruiter or hiring manager confidence that they’re not wasting their time by reading the rest of the resume. She also adds that everyone should keep a separate running list of work accomplishments to cull from regularly.

2. Leave out the years of experience?

“I always do say for professional summaries to leave out the years of experience. A lot of people say ’20 years of experience, 15 years of experience.’” But to avoid bias or ageism, leave out the years. Your resume and LinkedIn will ultimately show the length of your career without you needing to bring it up explicitly.”

3. Google (or GPT) what should be on a resume within the industry.

Not all jobs even need a professional summary. Finance and legal careers typically don’t include one. Format is a big deal also; even though it’s important to stand out, it’s probably not a good idea to go against the grain of the standard resume format within the industry.

This one is pretty easy to nail nowadays with the help of AI. Whether we like it or not, job seekers are using AI to build resumes. Not doing so will leave you at a disadvantage.

With JobParty.AI, it’s as simple as uploading a resume and the AI resume-building tool will optimize your resume.

Once you get the interview, the interview prep tool will give you everything you need to ace it and land that high-paying dream job. Here’s what one user had to say: “Using Job Party’s tools I was able to land my dream job in medical sales. The practice interview questions were the same ones as the actual interview!!”

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