The vision of LA-Tech.org as it prepared to launch this month was of a thriving tech ecosystem coordinating its resources to give back to the L.A. community.
Built by a group of L.A. CEOs and founders from the likes of Cornerstone, Blackline and Factual, the coalition originally sought to bridge the growing divide between wealth and want in Los Angeles through programming to provide low-income youth with internship opportunities at tech companies like Snap and ZipRecruiter. The idea was both to give back and to support the L.A. tech world by strengthening its local labor pool and helping employees feel connected to their community.
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As regions nationwide steel themselves for the oncoming peaks of COVID-19 cases, the U.S. economy continues to stumble. But some emerging patterns suggest certain changes once it stabilizes.
For now, JPMorgan economists forecasted this week a 40% annualized decline in U.S. GDP for the second quarter, and a 20% surge in April's unemployment rate, with 25 million jobs lost. The number of people seeking unemployment benefits in the past three weeks totals 16.8 million.
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ZipRecruiter Slashes Staff by 39% as Job Market Seizes – a Telling Sign as Nation Slides Into Recession
ZipRecruiter, one of the nation's largest websites connecting companies with jobseekers, has slashed nearly 40% of its own staff as the economy buckles in the fallout of the coronavirus crisis that's upended both Wall Street and Main Street.
The Santa Monica-based company cut 492 employees on Friday, with about 49 of them furloughed with only their healthcare benefits and the hope that the company will make good on its intention to bring them back, sources told dot.LA. The biggest hit was at ZipRecruiter's office in Tempe, from its sales team.
- ZipRecruiter Cuts 39% oIt's not a good sign when one of the country's largest recruitment websites cuts a very large chunk of its own staff. Reporter Sam Blake got the story on ZipRecruiter's decision and what it could mean for the economy.f Its Staff - dot.LA ›