Tech Layoffs are Hitting College Grads Too
Freshly graduated US tech professionals are turning out to be among the biggest victims of the ongoing layoffs in the technology sector, with businesses taking back job offers made to college grads.
Several LinkedIn users have posted stories of employers rescinding job offers or outright “ghosting” them after marking them as prospects for employment in IT. The list of companies that are allegedly pulling out job offers includes names as big as Coinbase and Twitter.
“Two weeks ago, I graduated from the University of Illinois Urbana-Champaign with a job offer from OneTrust as an Associate Customer Engineer. My start date was June 13. Today, June 1, I received a phone call from the talent acquisition team at OneTrust and they informed me that my offer is now rescinded,” wrote Tanvi Shah, a data analyst from Illinois, in a LinkedIn post.
More than 20,000 US tech workers have lost their jobs so far this year, with the month of May proving to be the worst for people employed in the industry.
Ride-hailing firms such as Uber and Lyft are laying off hundreds of employees, while e-commerce giant Amazon appears to have frozen hiring in the US in anticipation of a slowdown in the economy.
College grads have little hope of landing jobs even with large companies such as Google and Facebook, as they have already finished campus interviews.
“The trend to take back job offers exemplifies the turmoil facing the tech sector’s market,” wrote Andrew Murfett, Editor at LinkedIn News.