With tech companies laying off workers in droves in 2023—the industry shed more than 77,000 jobs this year—and more to come, tech professionals are struggling to regain their footing with weakened bargaining power.
In response to the recent layoffs, Springboard is excited to announce the launch of our new Career Reboot Scholarship, committing up to $1 million in scholarship funding through 2024 for individuals impacted by tech industry layoffs occurring nationwide amid inflation and economic uncertainties. The funds are intended to assist tech job seekers looking to upskill, reskill and stand out in a competitive hiring environment.
The Career Reboot Scholarship will provide eligible individuals with $1,000 toward a Springboard Career Track Program in Software Engineering, Data Analytics, UX Design, Cyber Security, and more. Up to 500 Springboard students will be awarded the scholarship.
“Layoffs are painful, and the experience can leave people feeling disoriented about their career and their future,” said Gautam Tambay, Springboard co-founder and CEO. “The message we’re sending with the Career Reboot Scholarship is that adversity can be an opportunity for reinvention. We saw this throughout the pandemic when thousands of people who lost their jobs turned to Springboard to start new careers.”
“We know that with the right tools and support, those impacted by these layoffs have a chance to invest in themselves, build new skills, and get the support they need to transition to the jobs they’ve always wanted. Tech talent is still in high demand, especially across sectors like healthcare, finance, and more.”
Despite the recent layoffs, tech giants like Microsoft, Salesforce, Meta, Google, and Amazon remain larger than they were before the pandemic—even taking into account the recent job cuts.
Tech skills are still in high demand as tech companies refocus their efforts on AI and machine learning while ‘traditional’ firms, including those in retail, banking, insurance, healthcare, finance, and climate technology, look to bolster their digital presence.
In fact, 8 of the top ten “best jobs” for 2023, according to Indeed, include roles like full stack engineer, data engineer, and machine learning engineer, among others.
Who is eligible for the Career Reboot Scholarship?
The Career Reboot Scholarship is part of Springboard’s Inclusion Scholarship Program, which aims to deliver $10 million in scholarships through 2030. It has awarded over $950,000 in scholarship funding to more than 1,000 students since launching in March 2022.
To qualify for the Career Reboot scholarship, anyone who applies must satisfy the following requirements:
- Proof of former full-time employment at a US-headquartered tech company on https://layoffs.fyi
- Have been terminated after September 1, 2022, with proof of termination validated through letter or email
- Apply and are accepted into any Springboard Career Track program
How do I apply for the Career Reboot Scholarship?
To apply for the Career Reboot Scholarship, please visit this page.
Aren’t these laid-off tech workers coming from high-paying jobs with cushy severance packages? Why do they need a scholarship?
Big tech has been known to offer high salaries and favorable severance packages, but every situation is unique. Layoffs are also impacting many non-technical, lower-paid roles in HR, customer support, marketing, and more.
Springboard recognizes that not all tech talent have the financial resources or cushion to lean on during a layoff, which is why we’re launching the Career Reboot Scholarship to help.
Are there any other resources available to recently laid-off students?
Springboard is hosting a free career coaching webinar on March 2 to offer support and advice to those impacted by the layoffs. During this one-hour discussion, one of Springboard’s most experienced career coaches will answer questions around topics including:
- Why are tech companies laying people off?
- What companies are still hiring right now?
- How to build confidence after a layoff
- 5 pro tips for a successful job search
The Springboard Career Coaching team will be available after the session to answer questions on how to best move forward with a job search post-layoff and share other helpful tips and tricks.
To find out more and register, click here.