63% of tech professionals started their own firm post-layoff: Report

About 63 per cent of technology professionals have started their own company post-layoff, with 83 per cent of these new ventures being in the technology industry, a new report has shown.

According to the lending firm Clarify Capital, nearly 1 in 4 tech workers couldn’t get hired by another company post-layoff.

The report included 1,000 surveyed tech workers who were laid off during the Covid-19 pandemic years and have since started their own companies.

About 93 per cent of workers say they are now competing with the company that let them go.

Moreover, the report said that the tech workers reported a yearly salary increase of $13,000 on average after starting a company after a layoff.