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Adam Allington
Microsoft announced today job cuts affecting 10,000 employees. The move comes amid a wave of layoffs at Silicon Valley companies including Amazon, Meta, Coinbase and others.
John Blevins is guest lecturer in Cornell’s SC Johnson College of Business where he focuses on technology-driven market changes, strategic management and leadership in the tech sector.
Blevins says:
“The tech sector is just getting back to where they were in 2020 or 2021, which I don’t think is a bad situation. It’s still a huge workforce. For Microsoft, I believe even with 10,000 layoffs, they’ll still have more employees than they did before the end of 2021.”
“On a very positive note, these people being let go at these major tech firms will get new replacement jobs almost immediately. They’re highly skilled, highly valuable workers with in-demand skills. They also tend to be very mobile and flexible, and can easily take advantage of remote work situations.”
“For the industry, it's probably a good thing, because they will take roles and "smaller" firms and bring the big firm knowledge with them. This cross-industry-pollination of information and ideas will actually help the industry as a whole because small to mid-sized firms could not attract the high-quality talent they so desperately needed.”