Companies Hiring amidst Layoff in 2023 | Xobin Report

Companies Hiring amidst Layoff in 2023 | Xobin Report

In 2022, over 1000 tech firms around the world laid off over 1,54,000 workers. If that wasn’t enough, the trend of layoffs has continued into the new year. In Jan 2023 alone, over 220 companies have reportedly sacked 68,000+ tech workers. This comes as a massive swing in sentiment after 2021’s FOMO-driven companies hiring binge.

According to Professor Jeffrey Pfeffer from Stanford Graduate School of Business, the tech industry layoffs are the result of imitative behavior. Companies in the same ecosystem merely imitate what others are doing.

Not everyone is Firing!

This situation has given rise to a rare phenomenon. After all, it’s probably the first time in a decade that the supply of talent is outpacing demand. 

On one end there mass layoffs , on the other hand there are many tech companies hiring for their job roles.

Companies that could never compete with FAANG and Big-Tech companies on a scale and employer brand are now swooping in on the laid-off tech workers.

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This comes as no surprise. There is a consensus that good tech talent is hard to come by. These skilled tech workers may not be in the job market for long. While it is true that firms have sacked tech workers in huge numbers, that’s just half the picture. One can’t paint all companies with the same brush. Companies like Apple, DELL, Arista, and Lenovo have had no downsizing in their workforce. Moreover, CEOs of companies like SAS and ServiceNow have even gone ahead and vowed absolutely no layoffs.

So who is Hiring?

Recruitment Agencies have reported Tech hiring mandates from IT services companies are down 70% year-on-year basis.

It’s difficult to list all the product-based tech companies that are hiring. However, between Jan 20th and Jan 29th, Xobin tapped multiple tech companies across the globe. This enabled us to map their job openings. 

Additionally, LinkedIn and Twitter posts by company employees helped scout for active tech companies hiring.

The result: Over 575 product companies worldwide are actively hiring for tech talent.

Which geographies are companies hiring for?

Product and Tech companies have largely remained concentrated in small hubs like Silicon Valley or London. Even after the layoffs, the trend continues.

Where are Product Companies Hiring?

The US, being a top drawer of talent, assumes the No.1 position in terms of location for product-related talent. This is due to the heavy concentration of tech firms in Silicon Valley, Texas, Seattle, New York, and Chicago, along with the ability to provide work visas for international workers. 

Europe and India are second and third in terms of locations where tech hiring activities continue.

What roles are companies hiring now?

The key building blocks for product companies are – Engineering, Sales, Marketing, Design, Analytics, Product Management, Finance, Legal, HR and Customer Success.

The number of open positions and roles is a function of the size of the company. However, each product company scales by hiring for these specific functions. 

Engineering and Software Development roles are much in demand. Over a quarter of all the open positions in product-based companies were related to product development. On the other hand, design roles seem hard to come by. With less than 3% of product companies hiring for design roles.

What functions are companies are looking for?

Diving deeper into product development, companies were found hiring for a variety of roles. From DevOps and cloud management to data engineering, site reliability, and security.

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Specifically in Tech and Development, what roles are companies looking for?

3 in 5 companies with open positions in product development are hiring full-stack developers and backend developers across web app and mobile app development. This is followed by Data related roles such as Data Analyst and Data Engineer. Infosec and Site-reliability roles prove to be fewer in nature, with just 8.9% of tech openings related to this field.

Remote Job Openings:

Companies are embracing remote hiring now more than ever, but with a few exceptions. 

Over 58% of employers are providing the option of working remotely for at least part of the week. Almost 17% of Product companies have positions supporting remote work from any part of the globe. 

How prevalent is Remote Hiring?

However, a few companies choose to follow a Time zone protocol. Close to 9.6% of companies hire remotely, but only for candidates in the US. This is broadly done for 2 reasons: to reduce the tax complexity and establish at least 5–6 hours of overlapping availability. 

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In short, despite recent mass layoffs from top companies around, there are still many companies that are still hiring. For those seeking international opportunities, platforms like VisaFly can be instrumental in navigating the complexities of global job applications and visa processes.

Hence, this Xobin report is a free resource for all job seekers in their job search. In this report, we have listed companies worldwide that are hiring currently. So, take advantage of this report for your quick and easy job search. 

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