Minneapolis And St Paul Tech Jobs
MSP On Deck Podcast #19: Reeher And Redbrick Acquired, Gravie Funding, Minnesota Recruiters And Minnesota Tech Layoffs

3 Lessons Learned From Minnesota Tech Layoffs: Capital One And ONE20


Laid Off

Back in December on the MSP On Deck podcast we made 2018 predictions and mine was that we would see continued greater tech hiring and we would see more layoffs… that we would see more churn in 2018 than 2017. To hear the episode click:

MSP On Deck #12 - The most popular tech news stories of 2017 + what big things are in the pipe for 2018?

At the beginning of May news broke that the Capital One office in St Cloud had cut around 24 tech staff:

Capital One announces another round of layoffs in St. Cloud

This one is not a big surprise… Capital One has been reducing the size of the St Cloud office.

Mid May the staff of Minneapolis startup ONE20 arrived on a Monday morning to find the office door locked. Outside of the company this one caught people off guard. Internally it seemed that many were aware things were rocky. There also seems to be some drama about this one regarding current customers, a few employees being retained (most are not) and what comes next:

Minneapolis Truck Tech Startup ONE20 Crashes, Laying Off 50+ (Tech.mn may require a subscription)

There have also been a number of groups that have “realigned” in some fashion causing 5 layoffs here and 10 there while still hiring across the company.

Here’s the deal and I swear I feel like this is old advice that doesn’t need to be said but then it does when tech pros are surprised to hear of layoffs. And I think I spoke about this during my Minnebar session or maybe because it seems to come up all the time… generally companies are going to do what they need to do to keep shareholders and investors happy. Whether you work at a private/public/startup, large/small, agency/med tech/manufacturing company this includes you. Which is almost everyone.

Including you.

So no one should be shocked, surprised or otherwise taken aback when something like this happens.

I have not spoken with any of the Capital One folks who were impacted. I have spoken with a few from ONE20 and 10+ tech pros this spring who found themselves involuntarily looking for work because of circumstances beyond their control. Hearing their stories… here are 3 lessons to learn (be reminded of):

- ALWAYS have a resume, summary, portfolio somewhat up to date. Do this every quarter.

- NEVER stop learning. Do not get stagnant with your skills. Do not lose touch with what your industry is working on.

- ALWAYS have your network somewhat warm.

I know… these lessons are not earth shattering or breaking news. Yet, it seems that a constant reminder is needed.

So let me ask you:

- Have you posted something on Twitter/LinkedIn lately?

- Is your resume/LinkedIn profile sort of up to date?

- Have you reached out to that one person you were thinking about at the New Year?

- Could you be doing a job search within a week of being let go?

Can you afford (literally/figuratively) not to be ready?

Get on it.

And if you’re in the IT/Data/Product/Digital/Startup space and want to network with me send an email paul@mnheadhunter.com and say hello and/or click the LinkedIn/Twitter/Instagram icons below.

 

Click Minnesota Headhunter for current blog posts and Minneapolis IT Jobs for searches I am working on.

 

Stay in touch with me by clicking:

 

Minneapolis Recruiter Minneapolis Recruiter Minneapolis Recruiter Minnesota Recruiter

Newsletter Sign Up
Email:

 

Comments

The comments to this entry are closed.