The wave of technical layoffs did not overwhelm Alberta

Recruitment continues to be the number one challenge for Calgary tech companies, says the innovation center’s vice president. Calgary platformJen Lussier.

Finding talent is problem number one, number two and number threeShe is laughing.

To convince, it is enough for her to point her finger at others. This new technology business incubator organized a job fair. About 2,000 people gathered at the stands of about thirty companies. All displayed characters: we attract and love interns.

Society attabotiki, which specializes in warehouse automation, hopes to add more than 60 people to its staff, or 20% more. She sees no end to her growth.

Calgary has a culture of innovation and entrepreneurship. People work hard and take risks, and we see this in the tech industry as well.says one of the directorsattabotikiJeff Smithanic.

Layoffs on the North American menu

The atmosphere at this event contrasts with the industry climate in North America. There are more and more examples of layoffs every day in the United States and also in Canada.

Financial Services Company Wealthsimple announced the departure of 13% of its employees, mainly from technology services. Vancouver Company thinking fired 20% of its employees at the end of March for improve efficiency and reduce costs.

Calgary-based Helcim plans to increase its workforce from 120 to 160 by the end of the summer.

Photo: Radio Canada/Tiffany Rockett

According to a website that counts layoffs in the sector: layoffs.fyi, about 30,000 employees of developing companies were laid off in the second quarter of this year, the highest number since the start of the pandemic. And even tech giants like Microsoft, Meta, and Uber have put hiring on hold.

: “engagez, engagez, engagez”. Puis tout à coup, le nouveau message des investisseurs, c’est: “assurez-vous d’avoir assez d’argent pour survivre pendant24 à 36mois, si un gros problème arrive””,”text”:”L’industrie des technologies était tellement surchauffée. Il y avait tellement d’argent d’investisseurs qui rentraient dans l’industrie et le message était: “engagez, engagez, engagez”. Puis tout à coup, le nouveau message des investisseurs, c’est: “assurez-vous d’avoir assez d’argent pour survivre pendant24 à 36mois, si un gros problème arrive””}}”>The tech industry has been so overheated. There was so much investor money pouring into the industry and the message was: Get involved, get involved, get involved. Then all of a sudden there was a new message from investors: “Make sure you have enough money to survive for 24-36 months if things go wrong.”explains Nicolas Beike, founderHelsiman online payment company based in Calgary.

The CEO of cryptocurrency company Coinbase admitted this in a public email to his employees. It’s clear that we overdid itBrian Armstrong wrote. The company laid off 18% of its payroll to prepare for a recession which may continue.

Youth is like a shield

If an economic downturn hits, it will be hard for Alberta to avoid it, adds Nicolas Beike, but the new technology sector is still young there.

Mostly these are large companies. [qui congédient], companies that have hired thousands of people and realize they were moving too fast. But when you think of Calgary, tech companies are much smaller. […] There is still room to grow, albeit a little slower.he adds.

Joanna Wynn of Avanti still sees many potential applications from oil workers to new technologies.

Photo: Radio Canada/Tiffany Rockett

One of the directors of a software company Avanti, Joanna Wynn, shares her optimism. The young woman has experienced a rollercoaster ride in the oil industry in her past career, and she also expects ups and downs in the tech sector, but not now.

There is still plenty of room for growthshe notes. millions de dollars de fonds cette année, mais cela n’a pas changé notre fonctionnement. Nous faisons preuve de discipline dans notre recrutement et dans nos domaines de croissance.”,”text”:”Nous avons réussi à lever 25millions de dollars de fonds cette année, mais cela n’a pas changé notre fonctionnement. Nous faisons preuve de discipline dans notre recrutement et dans nos domaines de croissance.”}}”>This year we managed to raise $25 million, but it hasn’t changed the way we work. We are disciplined in our recruitment and in our areas of growth.

According to the Calgary Economic Development Board, the sector may also be less affected in Alberta, as it focuses less on new technologies and more on the digitization of other sectors.

Jenn Lussier continues to see great growth opportunities in the application of new technologies to Alberta’s traditional sectors of the economy, namely agriculture and energy.

Maybe I’m too converted, but I’m very optimisticshe concludes.