It has been reported that around 63 per cent of technology professionals have started their own company after being laid off- as 83 per cent of these new ventures have been in the technology industry.
As per Clarify Capital- the lending firm, around 1 out of 4 tech workers could not find a job or get hired by another company post- the layoff-spree.
The report further included 1,000 surveyed tech workers who were laid off during the Covid-19 pandemic years, and they have started their own companies since the time.
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About 93 per cent of workers say they are now competing with the company that let them go.
Moreover, the report said that the tech workers reported a yearly salary increase of $13,000 on average after starting a company after a layoff.
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Around 58 per cent of tech workers who started a company after a layoff feel better about their new job security.
For professional growth, creating something new, more money, difficulty getting hired, being their boss, leading others and others were the top reasons tech workers decided to start a company after being laid off.
Further, the report stated that 40 per cent of respondents, the idea to start a company came between 6 and 12 months after getting laid off.
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Nearly around one-third of the people had their lightbulb moment even sooner in under six months and the rest took a year or more to decide that owning a business was the next logical step in their career. the IANS report mentioned.
Inputs for IANS
