Due to the volatile market conditions and uncertain times, investments have taken a nose-dive. The recent economic crisis has forced some companies to downsize. One industry hit hard was the tech industry. In 2022, more than 150K workers from 993 international tech companies lost their jobs.
As part of a restructuring, Primer made significant staff reductions to adapt to the market and increase its runway in what many predict will be a challenging year. In addition, Sophos, a cybersecurity company, let go of 10 percent of its global workforce.
Barriers to Black professionals in the tech space
Proponents of diversity in the tech world are concerned that the job cuts may disproportionately affect underrepresented groups, even though the layoffs may be necessary to help boost sagging profit margins.
According to studies, Black professionals face a much higher risk of losing their jobs than their white male counterparts. This is even more true in the technology industry, where the proportion of workers representing different racial and gender groups is already relatively low.
Black professionals shaping the tech industry
Although the statistics for Black professionals in the UK tech industry might seem somewhat bleak and discouraging, some are making significant strides in the industry.
Currently the Solutions Engineer at Zoom Video Communications, Adanna is a seasoned IT professional focusing on offering video conferencing solutions. She’s also a leader in the UK Zoom Women and Black network. She promotes the need for greater inclusivity and diversity in IT while highlighting contributions made.
Having earned the title “UK’s most powerful woman in technology in 2020,” Dr. Ann-Marie Imafidon is a force to reckon with in the tech industry. She received an MBE in 2017 for her work as a well-known advocate and inspiration for STEM women. BYP was proud to have her as a speaker at our 2022 Leadership Conference ‘Knowledge is Power’, where she spoke on a panel about ‘Telling Our Story’.
Ashleigh Ainsley provides advice on innovation, investments, and start-up partnerships to various corporate clients at Founders Intelligence. He co-founded Colorintech, a UK non-profit organisation that expands opportunities for racial and ethnic minorities to work in technology.
Andy is the co-founder of 10×10, a collection of Black entrepreneurs. He was a former director of Backstage Capital London and an angel investor at Atomico. By bringing attention to underrepresentation and assisting Black founders with financial, strategic, and networking support, he is leading initiatives to make European investing more inclusive and diverse.
We would be remiss if we didn’t add our founder and CEO Kike. Harnessing the transformative power of innovation, her vision for BYP has disrupted the workforce significantly. Committed to providing a platform to empower Black professionals around the globe, her foresight is why thousands of professionals are connected to hundreds of fortune 500 corporate companies. Additionally, BYP’s Leadership Conference has become a premier networking event delivering an enlivening experience, mentorship industry insights, and job opportunities.
Advance in your industry
Do you want to advance your professional and personal development as a young Black professional in the tech space? Are you ready to connect with industry leaders?
If so, BY-Peers is a network of Black professionals who network with top businesses to advance their careers. Become a BY-Peers member or Chief Activator today. Want to know more about the latter? Find out about a day in the life of our Lagos Chief Activator, Oluwafemi Alayande.