This article shares insights and strategies for navigating the challenging tech job market in Singapore, based on the experiences of a 38-year-old Singaporean tech worker documenting his journey toward a $4.5 million retirement goal by age 50. He shares the advice he gave to a fellow Singaporean in tech who was unfortunately retrenched.
Background and Qualification
In his late 20s, the author made a career switch from events to technology without a computer science degree or programming knowledge. He dedicated himself to learning web development and building projects, eventually landing a role as a technical support engineer at a software startup. After two years, he moved to a larger startup as a customer solutions engineer. Following another two years of hard work, he joined a major North American tech company as a senior solutions engineer. Over eight years, he has successfully navigated four major layoffs in the tech industry, mastering strategies for survival.
Understanding Layoffs: Meteorite vs. Whack-a-Mole
The author categorizes layoffs into two types:
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Meteorite Layoffs: Affect entire departments due to strategic shifts, such as the current focus on AI. Roles like customer support, marketing, and junior software engineering are particularly vulnerable. These layoffs often free up operational expenses (OPEX) to invest in capital expenses (CAPEX), like GPU chips and data centers.
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Whack-a-Mole Layoffs: Targeted and selective, where managers identify specific individuals for elimination.
Preempting Meteorite Layoffs: Recognizing the Signs
It is possible to preempt and survive a meteorite layoff. Key indicators include:
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Poor Stock Performance: A significantly and persistently low stock price puts pressure on management from both personal financial incentives (stock options) and institutional activist shareholders.
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Approaching IPO or Break-Even: Companies nearing an IPO or aiming for net income positivity often implement layoffs to improve financial metrics and attract investors. A Spotify example illustrates this point.
It is also important to be aware of a company's stage of growth. Companies in stages one or two, early start-ups or hypergrowth, are unlikely to engage in layoffs since they may want to grow faster with more manpower. However, companies in stage three, the profits begin to inch nearer to break even, layoffs may be in the near future.
Strategies for Avoiding Layoffs: Hopping Planets and Avoiding the Whack-a-Mole
Hopping to Another Planet
This involves strategically transferring to a safer department within the company before a major layoff occurs.
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Identifying Unsafe Departments: These typically include non-revenue generating roles (e.g., customer support, post-sales), contract-based positions, and roles not core to the company's primary product line. The further you are from revenue, the higher your risk.
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Assessing Irreplaceability: Determine how disruptive your absence would be to the company's operations. If you are easily replaced, your job is at higher risk.
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The Solution: Shift to a pre-sales role closer to revenue generation and try to develop a niche area where you cannot be easily replaced.
Surviving the Whack-a-Mole Layoff
To avoid being targeted in a more selective layoff, consider these factors:
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Irreplaceability and Niche Factor: Possessing unique skills, managing critical codebases or processes, or maintaining key client relationships significantly reduces layoff risk.
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Performance: Consistently meet or exceed performance expectations.
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Likability: Be solutions-oriented, not problem-focused. Bring solutions to your manager, and if possible, solve your manager's manager's problem too. Do and tell, don't just do and keep quiet.
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Documentation: Keep a record of your accomplishments using the STAR format (Situation, Task, Action, Result). Use numbers to quantify your achievements whenever possible, and mention brand names if you've worked with well-known clients or partners.
Additional Tips and Community
The speaker has also started a Patreon Discord community called the Turtle Knots where he shares exclusive investment memos, video episodes, news analysis, and more. He warns about scammers impersonating him in the community and emphasizes that he will never DM community members privately. He is not involved in any affiliate marketing or sponsorships and is primarily focused on content creation.
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