Bay Area tech workers consider moving amid layoff fears
More than half of tech workers in the Bay Area are concerned about being laid off or furloughed in the next six months, or their salaries hitting a plateau or dropping, according to a new report from Hired.
Why it matters: The tech industry has generally fared better than other sectors in the pandemic downturn, offering more chances to work from home and fewer layoffs. However, there are concerns that companies won't be willing to pay Bay Area salaries if remote workers decide to relocate to less expensive areas.
The state of play: Older workers and parents were most likely to be interested in working from home.
- A majority of those surveyed said they would not be willing to take a lower salary, even if it meant they could work remotely permanently. That held true for men and women, as well as for both parents and non-parents.
- However, if allowed to work from home permanently, many said they would consider moving to a less expensive location, including 42% of those in the Bay Area and 40% of those in New York, compared to just a third of those in the U.K.