What’s going on with SEA’s laid-off tech workers?

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Hello reader,

It’s not easy having to move on from things. No matter what stage you’re at, it would seem like you’re giving up a lifetime of memories and experiences.

And yet, moving on is part and parcel of growing as a person. As a really wise but slightly too forgetful fish once said: “Just keep swimming.”

In that vein, many tech workers who’ve been laid off recently are now looking to swim into new waters. In today’s story, my colleague Collin speaks to some affected employees to find out what’s next on the cards for them and shed a little light on what’s going on in the tech job market.

Today we look at:

• What’s going on with Southeast Asia’s laid-off tech workers
• Foodpanda enacting a second round of layoffs
• Other newsy highlights such as Fave’s co-founder stepping down and PhonePe raising an additional US$100 million.

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An ocean of opportunities?

Image credit: Timmy Loen

Things always seem difficult when the path ahead is uncertain. I get it, too – there were many instances in my life where a major decision was out of my hands and all I could do was try my best and hope for a good result. The feeling sucks, but I think the most important thing is to focus on what’s within your control and just work on that. Hard work will pay off – a sentiment echoed in today’s premium story.

• Taking a step back: Despite there being so many layoffs, the bigger picture should give workers something to hold on to. Demand for tech talent in Southeast Asia is still strong, says Peter Bithos, CEO of job listings major Seek Asia. In fact, data from Seek’s platforms – JobStreet and jobsDB – shows that demand for tech roles has gone up in Singapore and Indonesia.
• Switching it up: That said, it does seem that many laid-off workers are cautious about working at startups due to the inherent risks. As such, some may look to apply for roles at conglomerates and non-tech companies to have better job security.
• Meeting in the middle: Salary expectations for both employers and employees are making it difficult for some workers to find and accept a new position, given that tech startups have typically given bigger salaries as compared to non-tech firms. On the other hand, some companies want to hire laid-off employees at a salary lower or equal to what they were drawing at their old employer.

Read more: Where are SEA’s laid-off techies headed?

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