The COVID-19 is really making a huge mess among not only the public but also those professionals who work in the IT sector. According to reports, the number of Americans filing for state unemployment benefits has increased to 70000 this week because of the massive layoffs by the companies. Blind, a company involved in the analysis of companies with over 3.2M verified users took to their platform with the following three questions.
- Do you fear being laid off? (Yes/No)
- Have you started looking for new ways to supplement your income? (Yes, No)
- How many months will it take until you foresee life going “back to normal”? The users were provided with five options such as less than a month, 1-3 months, 4-6 months, 6-12 months or more than a year.
The company released its report on March 20 with over 3000 responses. According to the report, nearly 57.1 percent of the professional feat of being laid off. The highest among them is Expedia professionals with 87.5 percent, while Facebook professionals feat 37.5 percent. Amazon and Apple professionals also show the fear with 46.3 percent and 45.2 percent respectively.
As many as 24.9 percent of surveyed professionals have looked for new ways to supplement their income. The eBay professionals with 52.9 percent claim that they are looking for backup income methods, while 19.9 percent Amazon employees also render the same opinion. Nearly 20.4 percent of Google and 37.4 percent Apple professionals are probably on a lookout for the ways to supplement their income.
With the rapid spread of the COVID-19, there are concerns among people as to when life will go back to normalcy. Among the surveyed professionals, nearly 40.2 percent believe that it takes 6-12 months for life to go back to normalcy. While only 3 percent think it will take 1 to 3 months, over 13.8 percent believe that it takes more than a year.
The state of the economy has considerably declined due to the closure of factories in China. With IT professionals working from home, the new product releases are delayed considerably. From our point of view, only time will tell the future state of the economy.
