☀️ Spring Hiring Uptick, Tesla Layoffs & Leadership Job Search Wins
☀️ Spring Hiring Uptick, Tesla Layoffs & Leadership Job Search Wins
New signs of jobs growth and leaders are finding more jobs
Despite Tesla and Toshiba layoffs, tech hiring is starting to tick up again
Leaders are getting more roles and opportunities, a sign of better times ahead?
Some omens that could stop the new growth
What you should be doing?
My guest article in the 105,000+ subscriber Product Growth newsletter
Tesla stomps on Spring layoffs dip
Tesla’s 10% workforce reduction and Toshiba’s recent news dampened an otherwise downward trend in tech layoffs. But there are signs of improvement…
Spring jobs growth (finally!)
After a flat month, tech job openings ticked up 2,000 jobs this week.
Spring blooming on the ground
On the ground, we’re seeing more leadership (Director+) hiring in Q2 before the sleepy summer of June-August.
4 of my friends have received Director or VP Product roles in the past month, some after months of searching.
1 Staff PM and 2 Directors (Eng/PM) I have been coaching have 8 to 12 ongoing interview loops at once, with more in the pipeline
There is still a lot of competition out there, so you have to keep your outreach networking pipelines going, but there is an improvement.
and I interviewed 30 CPOs, VPs, Executive Recruiters, and VCs to write the definitive (20k+ words!) reference guide to the Product Leadership Job Search on his popular Product Growth Substack (105,000+ subscribers).
I recommend this guide to all leaders, even data science, engineering, and design.
If you are an experienced US-based tech professional in need coaching on your job search or negotiations, I offer limited professional coaching services.
Bad omens to keep an eye on…
3 things could rain on our sunny Spring in tech:
High interest rates: Inflation numbers suggest the Fed will not lower interest rates as planned — tech stocks could dip, hiring could stall, and we can see layoffs
Pre-election uncertainty: Although post-election market trends are dubious (with some interesting trends with divided outcomes), in the lead-up to elections, companies tend to act conservatively and may not open the headcount floodgates
Poor quarterly reports: Tesla laid off 10% of its workforce after several struggling quarters. While there aren’t strong signals this will happen across tech, consumer and business demand signals are mixed and a rough quarter could stall hiring
So what do you do about it
1. Go beyond the cold application
Networking is critical. I recently wrote a simple 3-step guide to networking with real examples.
Make sure outreach is:
Tailored: shared experience, engage with social posts, call out work they did, do extra work to get noticed)
Has a great hook: “5yr SaaS PM and super-user of [X]” not “Your product role”
Specific: “Looking for Series B-D startup Staff SWE roles” not “Do you know anyone hiring?”
Easy ask: “Can you forward my note to person X if I’m a fit?” not “Hey, someone I don’t know for a company I didn’t research! Want to meet for an hour?”
2. More volume
You need to be sending tailored outreach every day. Those leaders who have 8-10 interview loops at a time? They each sent out 100+ outreaches - both cold and warm - in the previous 2-3 weeks.
Tip 1: Network cadence—Get 30-100 target companies with or without roles open. Find 1st, 2nd, 3rd level connections. Get intros, ask for feedback if they don’t have a role, and ask each person who was impressed by you for intros to others they may know.
Tip 2: Recently funded companies—Subscribe to StrictlyVC (and keep an eye on this newsletter) for lists of recent funding rounds so you can network with companies before
With so many candidates, you can lose an opportunity even at the final round with great feedback from everyone! Keep multiple irons going.
3. Keep your chin up
A lot of people are complaining on Blind, in my DMs, and in my comments on social about how hard things are. When they tell me their stories, they sound EXACTLY like the stories I heard even during the boom times in 2021. The only difference is that it’s happening to a higher percentage of people.
Recruiters are overworked, laid off first, and are not going to prioritize your candidate experience right now (for the most part). Be empathetic and don’t take it personally. Just do the work needed to get through the process and don’t be a passive participant in your own career.
If you get through final rounds and get a rejection at the last second, it’s just because there were too many candidates with great feedback. There is usually not much you could have done differently (but ask for feedback of course).
If you DID make a great impression, ask that interviewer or manager for intros to other people who may be hiring.
If you think a tactic isn’t working, reflect on whether you have really done enough of it to test it. If you have, then try more things. Not just one thing. Do as many things as you can do well. Set targets each week. Pace yourself.
If you feel stress, procrastination, or any other psychological hurdles, take ownership and research ways to manage those conditions. Sometimes, just opening up to a friend can be enough to get back on the horse.
Today included some tough love, but…
The market is still tough, and many people are using frustration as an excuse to stop working hard.
You cannot sit and wallow about the situation.
You have control over your inputs, so optimize them.
Do 5x more outreach.
Do 5x more prep.
Build 5x better relationships.
Get 5x more options going.
If you want a supportive community to tap into while you search, let me know.
I’m considering creating a forum for community discussion among tech job seekers.
Comment or reply if you would like to see that.