Will the US tech layoffs lead to more outsourced marketing?

 Amazon, Meta, Google and Microsoft have all announced significant layoffs and this is likely to follow into medium and smaller sized companies throughout the US with economic uncertainty.  According to Layoffs.fyi, 553 US tech companies have experienced layoffs with over 166004 employees laid of in the sector so far in 2023. Will this lead to a surge in outsourced marketing in the Philippines?

Unemployment in the US refers to the percentage of the laborforce that is not currently employed but is actively seeking work. It is a significant economic indicator as it reflects the health of the economy and thelevel of demand for labor.

There are several reasons why high levels of unemployment may lead to outsourcing marketing teams. Firstly, when companies are facing economic difficulties, they often look to cut costs to remain profitable. Oneway to do this is by outsourcing work to countries with lower labor costs, such as the Philippines, where marketing services can be provided at a fraction of the cost of US-based marketing teams.

Secondly, outsourcing allows companies to access a larger pool of talent, as they are not limited to hiring only from the local labor market. This can be especially appealing in industries where highly specialized skillsare required, as outsourcing can allow companies to access the best talent from around the world.

Finally, outsourcing can also provide companies with greater flexibility and scalability. For example, if a company needs to quickly scaleup its marketing efforts, it may be more cost-effective to outsource some ofthe work rather than hiring and training new employees in-house.