_By Amanda Kavanagh
Last week, when HyperSocial CEO Braden Wallake announced layoffs at his company, he posted a crying selfie on LinkedIn. It met with mixed reactions, to say the least.
As his organisation specialises in optimising social engagement, some considered it a cheap ploy.
Others said the CEO was centring himself instead of his employees, while a number of people sympathised with this rare display of vulnerability in the corporate space.
Layoffs aren’t easy on anyone, but they’re especially hard for employees, and unfortunately, every week, more and more businesses are announcing cost-cutting measures.
While tech start-ups are particularly affected, layoffs are also commonplace at both scale-ups and more established organisations.
Consider these multinational names: Peloton is cutting 800 jobs while Meditation app Calm is laying off 20 per cent of its workforce.
Warby Parker is shedding 15 per cent of its corporate workforce. Hootsuite is laying off 30 per cent of its employees, roughly 300 people. Trading app Robinhood is laying off 23 per cent of staff. Soundcloud cut 20 per cent of staffers.
Groupon cut 15 per cent, Change.org cut 19 per cent, Shopify 10 per cent, and MasterClass 20 per cent.
Many European start-ups are taking significant hits. Second-hand car retailer Cazoo is reducing headcount by 15 per cent, affecting 750 jobs.
Grocery delivery services Getir and Gorillas are letting go of 4,500 roles and 300 roles respectively, while Zapp is shedding 10 per cent of its team.
Lockdown favourite and online educator Domestika has laid off 150 employees.
And the announcements keep coming. Layoffs.fyi is a live data source tracking all tech layoffs, and according to its database, 520 start-ups have announced layoffs this year, affecting 7,0671 employees.
After years of huge investment in tech companies, interest rates are rising and big funding announcements are slowing down. Add to this the pressures of the war in Ukraine, supply chain disruption and rising inflation, and businesses are now making tough decisions.
Many VC-backed companies are preparing for a dearth of future investment by refocusing on sustainable profitability, reducing burn rate, pulling out of certain markets, freezing hiring, conducting reorganisations and of course, announcing significant layoffs.
What does this mean for jobseekers?
To start, there’s a lot more competition for roles at the moment, so applicants must really go above and beyond to stand out from the crowd.
However, mass redundancies also mean that those organisations which are hiring at the moment are likely still doing so with clear, long-term strategic rationale behind each hire. There’s a lot more talk of “essential hires,” which signals some stability.
While there are no guarantees in such an unpredictable market, jobseekers may be reassured by this more cautious hiring approach. Plus, with hybrid and remote working options now more commonplace, jobseekers can cast their net much wider.
Here are three from Euronews.jobs to start.
Account Executive Dutch/Swedish Remote, PayPal
Location: Amsterdam, Netherlands, or remote
PayPal is looking for an Account Executive to drive revenue growth by selling its products directly to fast-growing merchants in Northern Europe. By delivering a value-based sales proposition to decision-makers, the successful candidate will navigate all aspects of the B2B sales process.
Fluency in English is a must, while a second language is desirable. A proven track record in an inside sales role is required, as is proficiency in Salesforce.
PayPal’s remote working policy is currently under review, but all hiring, onboarding training, and initial work for this role will be conducted remotely. The company offers a flexible work environment, employee share options, health insurance, and life insurance.
Find out more about the Account Executive role.
Machine Learning Engineer, Ericsson
Location: Paris, France
To focus on the newest tech for AI automation, security, 5G, and 6G, Ericsson is growing its Paris R&D and Innovation hub. The mobile tech innovator is seeking a Machine Learning Engineer to join its Network Automation group and build robust and intelligent automation applications.
The successful applicant will participate in software development for cloud-native automation applications with Machine Learning components, contribute to rapid high-quality AI applications and collaborate with product dev and partners to industrialise machine learning models.
As well as a relevant MSc, you’ll need strong skills in linear/logistic regression, bagging, Bayesian model, neural networks, random forest, gradient boosting, hyper-parameter optimisation techniques, etc. Plus, a proven track record in state-of-the-art machine learning frameworks, data engineering, and handling technologies.
See more about this Machine Learning Engineer position.
Marketing Specialist Brand Licensing, Villeroy & Boch AG
Location: Mettlach, Germany
Known for their exceptional quality and design, Villeroy and Boch makes dining tableware and bathroom ceramics, alongside a broad catalogue of lifestyle and homeware products. The German manufacturer is hiring a Marketing Specialist Brand Licensing for its global headquarters in Mettlach, near Trier.
This role will provide operational support to licence partners setting up and will develop the central brand licence. There’s also a creative side to the position: you will support the creation and coordination of marketing and PR strategies with licence partners, plus engage in innovation briefing and market launches.
You must have a degree in economics or comparable commercial training, and can speak both German and English.
Get more details on this exciting Marketing Specialist Brand Licensing role.