Don’t Fear the Latest Job Cuts in the Tech Industry

    FOXBusiness.com‘s Victoria Craig explains how the ever-changing nature of the tech sector is impacting employment:

    Silicon Valley is booming, but its growth comes with a price. Kalina Koinova in her 40’s and with 20 years of experience, found herself in tech-rich California, out of job and out of ideas.

    She was caught in a tectonic shift as her fields focus moves from hardware to services like cloud computing and big data. After reevaluating her skill set, Koinova landed a new job in technical marketing:

    (Koinova) “Just looking at specific industry or specific type of companies and figure out what are the job functions and what are the jobs responsibilities, which really are important for me and which I am good at.”

    Kionova’s situation is not unique, since last August, the tech-sector has lost more than 241,000 jobs from some of the biggest names in business, including IBM and Cisco. But because overall employment in the industry posted the highest growth in more than a decade, the surge in layoffs is just part of standard industry turn.

    Kris Stadelman is the director at NOVA Workforce Services in California:

    (Stadelman) “Nobody here is a chip engineer anymore, but their engineers, they went on to software, they went on to networking, they on to security, you know they went on to other engineering platforms.”

    She said many displaced workers can find new jobs by adding a layer of new training to their skills.

    Victoria Craig, FOX News. 

    Follow Victoria Craig on Twitter: @VictoriaCraig & @FoxBusiness
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