Wave of tech layoffs not overwhelming Alberta



Recruitment is still the number one concern for Calgary tech companies, says vice-president of the innovation center Platform CalgaryJen Lussier.

Talent search is problem number one, number two and number threeshe laughs.

To convince, she only has to point the finger at the people around her. This new technology business incubator organized a job fair. Around 2,000 people flocked to the stands of around thirty companies. All displayed signs: we engage and we love interns.

The society Attabotics, which specializes in warehouse automation, hopes to add more than 60 people to its workforce, 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 that in the tech industry toobelieves one of the directors ofAttaboticsJeff Smithanik.

Layoffs on the North American menu

The atmosphere at this event contrasts with the industry climate across North America. Examples of dismissals are increasing every day in the United States, but also in Canada.

The financial services company Wealthsimple announced the departure of 13% of its employees, mainly in technology services. The Vancouver company Thinkific laid off 20% of its workers at the end of March for increase efficiency and reduce costs.

Calgary-based Helcim plans to grow from 120 to 160 employees by the end of the summer.

Photo: Radio-Canada / Tiphanie Roquette

According to a website that tallies layoffs in the sector: layoffs.fyi, nearly 30,000 employees of emerging 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 suspended hiring.

The tech industry was so overheated. There was so much investor money coming into the industry and the message was, ‘engage, engage, engage’. Then all of a sudden the new message from investors is, “Make sure you have enough money to survive for 24-36 months, if something big goes wrong.”explains Nicolas Beique, the founder ofHelcima Calgary-based online payment company.

The chief executive officer of cryptocurrency firm Coinbase admitted as much in a public email to his employees. It’s clear we’ve overcommitted, wrote Brian Armstrong. The company has laid off 18% of its payroll to prepare for a recession which could last.

Youth as a shield

If an economic slowdown sets in, Alberta will have a hard time escaping it, adds Nicolas Beique, but the new technologies sector is still young there.

It’s mostly big companies. [qui congédient], companies that have hired thousands of people and are realizing they moved too fast. But when you think of Calgary, the tech companies are much smaller. […] There is still a lot of room to grow, even if it is a little slowerhe adds.

Joanna Wynn of Avanti still sees many possible conversions of oil sector employees to new technologies.

Photo: Radio-Canada / Tiphanie Roquette

One of the directors of the software company Avanti, Joanna Wynn, shares her optimism. The young woman experienced the roller coaster of the oil industry in her former career and she also expects ups and downs in the technology sector, but not for now.

There are still tons of growth opportunitiesshe points out. We managed to raise $25 million this year, but that hasn’t changed how we operate. We are disciplined in our recruitment and in our areas of growth.

According to the Calgary Economic Development Council, the sector may also be less affected in Alberta because it specializes less in new technologies, but in the digitization of other sectors.

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

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



Reference-ici.radio-canada.ca

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