Layoffs in tech and finance are dominating headlines once again, raising questions about what job security looks like as we move into 2025. Major companies like Meta, Google, and banks like Goldman Sachs have trimmed their workforces in response to shifting markets, economic uncertainty, and the growing influence of AI.
For professionals navigating these industries—or job seekers looking to enter them—the landscape might feel uncertain. But what do these layoffs really mean for the future of job security? And how can you adapt to stay relevant in 2025?
This article breaks down what’s happening, why it’s happening, and the steps you can take to future-proof your career.
Why Layoffs Are Happening: The Bigger Picture
Layoffs often feel sudden, but they’re usually the result of broader economic and market trends.
- Economic Uncertainty
The lingering effects of inflation, rising interest rates, and a slower-than-expected economic recovery have put pressure on many industries to cut costs. For sectors like finance and tech—where payroll is a major expense—layoffs have been a common strategy. - AI and Automation
The rapid adoption of artificial intelligence and automation has changed the demand for certain roles. Companies are prioritizing AI-driven processes to improve efficiency, reducing the need for some traditional roles. For instance, customer support, data entry, and even some coding tasks are increasingly automated. - Tech Over-Hiring During the Boom
In 2021 and 2022, the tech sector saw unprecedented growth. Companies aggressively hired to meet surging demand during the pandemic. However, as demand normalized, many companies found themselves overstaffed, leading to corrections through layoffs. - Investor Pressure and Cost-Cutting
For publicly traded companies, layoffs are often a response to investor demands for profitability. Shareholders want to see leaner operations and higher margins, pushing companies to streamline their workforce.
In 2024 alone, over 260,000 tech workers were laid off globally, with financial giants also announcing significant downsizing. As we approach 2025, these trends remain at play.
What Industries Are Most Affected?
While layoffs are not unique to tech and finance, these industries are facing unique challenges:
- Tech Sector
- Roles in software engineering, data entry, and non-technical support are facing the biggest risks, especially as automation and generative AI take center stage.
- Companies like Google, Amazon, and Microsoft have restructured their teams, focusing on AI development and innovation.
Meta announced multiple rounds of layoffs as it pivoted its focus to AI and the metaverse, shedding positions that no longer aligned with its strategy.
- Finance Sector
- Investment banking, commercial banking, and customer-facing financial services roles have seen cuts. The rise of fintech solutions and automated trading platforms has reduced the need for traditional roles.
- Cost-cutting measures are especially common at major banks responding to volatile markets.
Goldman Sachs cut nearly 3,000 jobs earlier this year, citing lower deal-making activity and changing market dynamics.
- Startups and Scaleups
- Startups that rely on venture capital funding are facing challenges as investors tighten their purse strings. Roles in sales, marketing, and general operations have been hit hardest.
40% of startups in 2024 reported cost-cutting as a survival measure, including layoffs and hiring freezes.
How to Adapt: Future-Proofing Your Career
While layoffs might seem daunting, they also highlight opportunities to stay ahead of the curve and build resilience in your career. Here are practical steps to strengthen your job security:
- Invest in In-Demand Skills
Upskilling is one of the most effective ways to remain relevant in a rapidly changing job market. Employers are prioritizing skills that align with emerging technologies and strategic business priorities.- Top Skills for 2025:
- Artificial Intelligence and Machine Learning
- Cybersecurity and Data Privacy
- Cloud Computing (AWS, Azure, GCP)
- Business Analytics and Automation
- Soft Skills: Critical Thinking, Adaptability, Communication
Pro Tip: Platforms like Coursera, Udemy, and LinkedIn Learning offer affordable ways to gain certifications in these areas.
- Top Skills for 2025:
- Diversify Your Experience
If you’re in tech or finance, consider broadening your experience to adjacent roles or industries. For instance, cybersecurity professionals are in high demand across healthcare, government, and retail sectors. - Stay Agile and Embrace Change
Flexibility is a key asset in today’s job market. Be open to learning new tools, working in cross-functional teams, or even exploring freelance or contract work as a way to gain diverse experience. - Build a Strong Professional Network
Networking can often lead to opportunities before they’re publicly advertised. Attend industry events, join LinkedIn groups, and engage with your professional community to stay in the loop. - Focus on Value-Driven Work
Employers value professionals who can deliver results. Highlight your contributions, quantify your impact (e.g., “improved efficiency by 20%”), and showcase your ability to solve problems.
Looking Ahead: The Future of Job Security
While layoffs have dominated the news, the long-term outlook isn’t all gloomy. Experts predict that roles tied to innovation, digital transformation, and AI will create significant opportunities in the coming years.
Key Predictions for 2025:
- The AI industry will create up to 10 million new jobs globally, including roles like AI trainers, AI product managers, and prompt engineers.
- Cybersecurity roles will grow by 33%, driven by increasing digital threats.
- Green energy and sustainability-focused positions will emerge as governments push climate commitments.
What This Means for You: While traditional roles may shift, opportunities are expanding in emerging fields. Staying adaptable and future-focused will give you a competitive edge.
Conclusion
Layoffs in tech and finance can be unsettling, but they’re also a signal of where the workforce is headed. The industries are evolving, and with that comes the need for new skills, new roles, and new approaches to job security. By investing in upskilling, embracing change, and positioning yourself in high-demand fields, you can navigate this uncertainty and thrive in 2025.
While no career is ever 100% secure, staying informed, connected, and adaptable will set you apart in this evolving job market.
About the Author
BCjobs.ca is Western Canada’s largest job board, with a majority of the jobs coming from Vancouver. For over 20 years, BCJobs has connected job candidates with companies looking to add talent to their teams.
