If you’re one of the hundreds to recently lose their job as companies like Stripe, Twitter, Meta and others shed staff, you’d be forgiven for wanting your next career move to take you away from the volatile world of Big Tech.
Working for a big-name tech giant or unicorn carries prestige, but times are changing and market conditions are making some of these jobs more precarious than they once were. At the same time, investment in companies focusing on green and sustainable technologies is rising, with the result that many newly laid-off people are looking in that direction for their next job instead.
“The climate and sustainability sector is a big area of growth,” Ed Rossiter, chief executive of recruitment specialist Phoenix, said. “We’ve seen the entrance of specific investment funds like the UK-based Foresight, for example, into Ireland where they are taking a proactive approach to investing in clean tech, renewable or sustainable-focused businesses. There’s certainly a large focus on that particular area. There’s no doubt about that at all.
“Starting around six months ago, there was a growing nervousness about overinflated tech sector valuations and the pace of growth there. A ‘right-sizing’ was on the cards for some time, particular for the bigger and more public brands.”
While the job losses that have attracted the most attention in the press have been in household-name tech companies, that’s far from the full picture. “It’s not just the social media giants that have shed staff, we have also seen the likes of Shopify scale back their Irish operations as well.”