Tech Layoffs Continue Amid Ongoing Digital Transformation

Despite the widespread cutbacks that have impacted every industry, from education to aviation, businesses throughout the world are still searching for IT specialists. The need for tech jobs in domains like cloud architecture, software development, cyber-security analysis, and artificial intelligence (AI) and machine learning engineering is also rising as non-tech organizations step up their digitalization initiatives. Regardless of the industry, businesses looking to increase their digital capabilities continue to prioritize the push towards digitalization. What implications does this have for tech workers?

Despite the industry’s significant and enormous layoffs among major tech organizations worldwide in recent months, there is a robust demand for tech positions, and the hunt for talent in technology is still fierce. Many businesses are spending extensively in incorporating cutting-edge technology into their operations as part of their continuous digital transformation initiatives, which is partly responsible for this apparently contradictory development as evidenced by the fact that over 100 enterprises in this region, including Huawei, Accenture, and Amazon Web Services (AWS), are seeking to fill over 1,000 openings in these areas. According to a recent article, businesses are realizing more and more how important it is to have qualified experts who can use these digital technologies efficiently.

Even in a difficult economic environment, there is still a need for IT workers. Many businesses continue to advance their digitization efforts because they recognize that future success depends on having a strong technology foundation. This strategy is a proactive step to guarantee long-term sustainability and market competitiveness rather than just a reactive one to outside forces. The continuous search for IT talent highlights how important qualified tech professionals are to innovation and expansion.

According to Senior Minister of State for Digital Development and Information Tan Kiat How, some of these jobs have long been in demand, and the increasing use of AI and cloud services by companies has increased demand for them even more.

Given the recent reports of layoffs at some firms, graduates and computer professionals are worried about their career prospects. Speaking at the first-ever Tech Skill-Up Festival on March 12 at Marina Bay Sands, Mr. Tan stated that the industry is still well-positioned for expansion and would continue to provide Singaporeans with decent employment.

The employment fair, which is jointly organized by the Infocomm Media Development Authority (IMDA), trade organization SGTech, and NTUC’s Employment and Employability Institute, is aimed at mid-career switchers as well as graduates from polytechnics and the Institute of Technical Education (ITE).

Until May 11, the employment fair will also be held electronically, with participating firms listing the positions and number of openings.

The hiring campaign follows a wave of layoffs at digital companies, such as TikTok, which fired at least a dozen workers in Singapore in February after hundreds of workers were laid off globally in 2024. Meta also said in February that it will eliminate about 3,600 positions, or 5% of its staff, worldwide.

According to Mr. Tan, who spoke to hundreds of business exhibitors and job seekers—many of whom are students—the demand for tech jobs in Singapore is still strong and will increase from 4.5% of all jobs in 2019 to 5.3% in 2024.

According to Mr. Tan, companies from non-tech sectors like manufacturing and healthcare are also looking for tech expertise, accounting for around 58% of all IT employment.

In order to solve the lack of IT talent—which is one of the most difficult positions to fill, according to research—he advised the sector to base hiring decisions more on individuals’ talents than their credentials.

Instead than only looking at a person’s educational background, employers can also consider their practical experiences, such as their job history and school projects that demonstrate abilities like communication and problem-solving.

According to Mr. Tan, since its inception, the TechSkills Accelerator for Institute of Technical Education and Polytechnic Alliance, which helps graduates of polytechnic and ITE find tech employment, has assisted graduates in filling over 1,000 positions.

More companies are looking for ITE and polytechnic graduates based on their talents rather than their credentials. Since 2023, more than 300 companies, such as Accenture, OCBC, and DBS, have hired more than 1,300 students for long-term internships to help them develop real-world skills, Mr. Tan stated.

According to Jay Chan, head of talent acquisition, UOB, for example, hires around 50 ITE and polytechnic graduates each year for a 12-month internship through its U Unleash Program, which gives them real-world experience and may lead to full-time employment.

Through the internship, the bank can teach graduates with the skills they need and determine if they would be a suitable match for a full-time position at the bank, according to Mr. Chan.

One of the polytechnic graduates employed full-time by the bank, Amirul Helmy, 24, a UOB software engineer, claimed that emphasizing specialized electives, certificates, and school projects on his résumé helped him stand out in a job interview.

According to Mr. Aman Tej Singh, regional head of consult and practices for IT services company Kyndryl, emphasizing skills is a more pragmatic approach to hiring as it helps businesses identify workers who are more suited to their particular requirements. During interviews, candidates demonstrate their proficiency in skills-based assessments, which is more useful than only depending on credentials, he added.

In order to increase the pool of IT talent, IMDA has also partnered with other businesses. On March 11, Microsoft unveiled an initiative called Code; Without Barriers that would provide 10,000 women with training and job prospects through programs that give certification in cloud, artificial intelligence, and other skills. The ladies will be from affiliated businesses such as Bank of Singapore and CapitaLand.

Zarine Blossom Wong, a 24-year-old cyber threat hunting expert, has risen up the ranks since joining the cyber-security company Ensign Infosecurity by picking up new abilities. After earning a diploma in Infocomm Security Management from Republic Polytechnic in 2021, she began working for the company as a security operations analyst.

She was an even more valuable asset because the company paid for her training to get specialized skills in incident response and cyber security strategy because of her excellent performance.