Twitter has laid of 50% of its staff. The remaining Tweeps were issued an ultimatum – go ‘hardcore’ or get out. Now, It looks as if thousands more employees will exit, opting to take severance instead of continuing their tenure at Twitter.
Yet, the exodus (voluntary or involuntary) from Twitter doesn’t necessarily translate to more tech jobs filled at other organizations still looking to hire engineering talent.
Those who have applied to Twitter in the past went through an intense interview process. While they have enjoyed high salaries and top-notch benefits, many have emphasized that they stay for the culture and work stimulation that they’ve experienced at Twitter.
Through the lens of the media, we would assume that Twitter, Facebook, and Amazon are now devoid of engineers. However, in reality, most layoffs have been operations, marketing, recruitment and ad sales. And, according to Gartner, tech spend will rise again in 2023, further cementing the evolution of technology teams from cost centers to revenue drivers.
So, what happens to those engineers who have opted to leave Twitter? Many will take their severance and enjoy a break. Tech unemployment remains low and demand for their talent has not changed. It’s likely that most will be approached by larger companies ready to provide similar compensation and work stimulation.
Most smaller organizations or start ups will not be able to compete. Though some ex-Tweeps might consider a radical change in their career path, it is unlikely that most would be willing to take a massive pay cut at a mid-tier organization. Their skills and resumes are strong. They know what it’s like to live and breathe company culture—and be rewarded for their work.
Companies that cannot offer top tier compensation packages that rival Twitter need to concentrate on hiring other great engineers rather than holding out for the Twitter unicorn. Business critical projects need to be completed. Sinking hopes into one specific engineering profile hinders this forward movement and makes the hiring and on boarding process that much longer.