A few weeks ago on the MSP on Deck Podcast 12 - The most popular tech news stories of 2017 + what big things are in the pipe for 2018? we made predictions for 2018 and one of mine is that Minneapolis and St Paul will see more IT job growth and a greater number of layoffs than 2017.
Yes… I am predicting both.
Let me start with the “bad news” first. As 2017 went on there were a number of unannounced layoffs at many large companies… usually in the 10’s, 20’s and 50’s range of jobs. It seemed like some large companies were doing this so not to have to file a notice with the State of Minnesota.
That’s speculation on my part and I stand by it. Add up all the numbers and they would have had to file a notice. These layoffs were generally part of restructuring staff, maybe over hired in a group, becoming more efficient, etc. And they were in all skill sets from marketing, sales, customer service and yes, IT.
Startups and small tech groups are a part of this too. A customer is lost, a MVP does not work, investors worry about the burn rate, etc. Layoffs are in the 2’s, 5’s and 10’s.
And that’s my basis for more tech layoffs in 2018 than 2017… it will continue. It happens and it’s a normal thing in a growing economy. Many companies have hired hard and fast the past 18 months and some may have gone a bit too far.