200,000 tech layoffs sound alarming. But context matters — and the real story is about where the best executive opportunities are actually moving. Hint: it's not where most people are looking.
The headlines have been relentless: mass layoffs at Google, Amazon, Meta, Microsoft. 200,000 tech jobs gone. The sky is falling.
Except it isn't. And if you are an executive navigating this market, understanding what is actually happening — versus what the headlines are saying — could be the difference between a frustrating 18-month search and a compelling new role in under 6 months.
What Is Actually Happening
The tech sector implosion is not the collapse of an industry. It is a recalibration — an evolution toward a more streamlined and efficient structure.
During the pandemic, the big players in this industry increased their workforces by up to 20–30% in customer service, product development, and sales/marketing. As the world normalized, these same companies are adjusting their workforce to align with post-pandemic dynamics.
In 2022, the tech sector added a staggering 265,000 jobs. The 200,000 layoffs that followed represent a net gain, not a collapse. That context matters.
Rise of the Underdogs: The Mid-Tier Opportunity
As some giants take a step back, mid-tier companies are stepping into the spotlight. These companies — with annual revenues under $2 billion — are capitalizing on this moment by expanding their operations and creating new employment opportunities, particularly for experienced executives.
I am seeing a sweet spot in hiring for Director level and above roles in companies with annual revenues between $100M and $1B. In fact, most of our clients in the last three years have moved from companies with over 20,000 employees to companies well under 5,000 — with a good chunk of them finding SVP, EVP, and C-Suite roles with companies under 1,000 people.
The compensation at these companies is often better. The scope is frequently broader. And the impact is more visible and more meaningful.
Where the Real Opportunity Lives
Certain sectors of the tech industry are asserting themselves with undeniable vigor: Blockchain, Artificial Intelligence, and Augmented/Virtual Reality. These areas are growing, not contracting.
But the bigger opportunity for most executives is not in chasing the hot sectors. It is in recognizing that mid-tier companies in every industry are now competing for the executive talent that large corporations are releasing.
Your Next Move
The strategic play is to explore mid-tier companies — mostly pre-IPO, often in growth mode, frequently in need of the exact leadership experience that large-company executives bring.
Craft a compelling LinkedIn profile. Strategically reach out to potential contacts within these company demographics. And critically: don't immediately tell them you're job seeking or ask if they're hiring. You can't pitch too early — you'll just be considered spam.
Let's not misconstrue this shift as an end. It is a new horizon. The tech sector's transformation is a testament to its dynamism — and for executives who know how to position themselves, it is one of the best hiring environments in years.
Tammy has been considered a global expert in executive career searching since 2003. After spending five years at the largest executive career firm in the United States, she founded Career Resume Consulting in 2008. She has been quoted in the Wall Street Journal, Fast Company, Fox News, and MSN, and works one-on-one exclusively with senior executives navigating high-stakes career transitions.
Ready to Accelerate Your Executive Search?
Our clients average under 5 months to a new role — with a 54% average compensation increase.
Schedule a Strategy CallDiscussion
Be the first to share your thoughts on this article.