Job security is a thing of the past

Ariana Rodriguez | Staff Writer

With massive layoffs across numerous industries, it’s now a necessity for students to have backup plans for their post-graduation journey. 

Since COVID, the job market has been inflating due to remote and work-from-home options becoming more widespread. However, due to over-hiring during the pandemic, companies have decided to cut costs by ensuing mass layoffs. And with over 40,000 tech layoffs in just 2024 alone, it seems the snowball is only getting bigger.

While the tech sector used to be stable and innovative, it is now confronting the harsh realities of economic turbulence. Rapid technological evolution, coupled with market disruptions and unforeseen crises, has rendered even the most established companies vulnerable to downsizing initiatives. From startups to corporate giants, no entity seems immune to the specter of mass layoffs.

Support roles like management and governance are getting hit too, with companies like Facebook aiming to hire more engineers. This shift affects departments across the board. But it’s not just about tech—fields like education and health aren’t hiring as fast either.

For students, especially FIU students who are native to Miami, this raises concerns. While unemployment rates may not necessarily skyrocket, the focus should be on job flexibility. Companies are shuffling things around, and we need to be ready to adapt to these changes.

With ripple effects felt across the job market, individuals in diverse professions find themselves grappling with uncertain futures. 

The conventional wisdom of job security has been upended, necessitating a paradigm shift in how individuals approach their careers.

Having a backup plan isn’t just nice to have- it’s a must. Whether learning new skills, picking up side gigs or even starting your own thing, having options is key in today’s volatile job market. 

The days of relying on a single job are long gone despite your major or career path. 

But it’s not just about having a plan B; it’s about staying sharp and keeping your finger on the pulse. Keep up with industry trends, network like your next paycheck depends on it (because it does), and take any opportunity that comes your way. The more adaptable you are, the better equipped you’ll be to handle whatever curveballs come your way.

Furthermore, it’s essential to underscore the significance of establishing a support network. Whether composed of friends, family members or fellow professionals, having individuals who can offer guidance and encouragement can prove priceless during challenging times. 

Networking is crucial for landing a job in today’s job market because it helps you tap into the hidden job market. While job postings are a visible part of the hiring process, many job opportunities are filled through word-of-mouth referrals and connections.

In the end, even though mass layoffs might make everyone feel a bit on edge, they can also be a chance to grow both personally and professionally. If you’re able to roll with the punches and stay flexible, you might just find yourself coming out of the chaos even stronger than before. 

Overall, mass layoffs highlight the necessity of backup plans and future readiness. Adaptability and foresight are key in today’s volatile job market. By diversifying skills, staying informed and building support networks, individuals can confidently navigate uncertainties with resilience.

DISCLAIMER:

The opinions presented on this page do not represent the views of the PantherNOW Editorial Board. These views are separate from editorials and reflect individual perspectives of contributing writers and/or members of the University community.