Tech layoffs could be boon for CIOs

CIOs say that recent layoffs in the tech industry could help ease IT staffing shortages and the uber-competitive hunt for talent, the Wall Street Journal reported June 17.

Amid declining tech stocks and cryptocurrency values and worries about a possible recession, big tech companies, including Microsoft and Meta, have slowed hiring, while crypto firms such as Coinbase and Crypto.com have been letting staff go.

"I do expect we will start to see more candidates that were part of layoffs," Carhartt CIO Katrina Agusti told the Journal.

IT recruiters told the newspaper they see the layoffs as an opportunity to hire for positions that have been hard to fill when demand for tech workers has far outweighed the supply in recent years.

"There is still a massive shortage of talent," Kroger CIO Yael Cosset told the Journal, but he said the company has been "making good progress" in recruiting.

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