Not all those who have been laid off recently are brooding or desperately looking for jobs. Some enterprising ones are starting their own businesses. For every 100 people laid off in recent times, 13 have started their own businesses. A report that studied the profiles of laid-off employees says that the likelihood of laid-off software engineers starting their own businesses is the maximum. In fact, out of every 100 startups, nine are set up by those who worked as software engineers. Interestingly, the maximum number of startups is set up by former employees of Meta!
One out of every three workers laid off by Meta has launched their own startup.
The study by Bizreport also reveals that 16 per cent of former Twitter employees have turned entrepreneurs, while 25 per cent of former Amazon workers have launched their startups. About 30 per cent of DoorDash’s laid off workers have launched startups while the maximum businesses have been established by those laid off from Meta — about 32 per cent!
Not surprisingly, most startups have been founded by those who formerly held managerial positions. A significant 44.4 per cent of startups were the brainchild of former directors and managers.
About 25 businesses were launched by former software engineers, while five were launched by engineering managers. Three businesses each were rolled out by former senior recruiters, senior product managers, programme managers and account managers. Four product managers and four product market managers have also established their own startups.