AUSTIN, Texas — Tech layoffs swept the globe last year. Thousands who thought they were secure in their positions are now out of work, and as fear of recession lingers, tech companies continue to slash jobs.
Austin, which is known for being a vibrant tech city, has felt the impact. The city is now ranked No. 4 among the top 10 metro areas with the most layoff anxiety.
"Texas seems to have it in spades as a state. There were four Texas cities in the top 10," said Susannah Snider, SmartAsset managing editor for financial education.
To determine this rating, SmartAsset analyzed Google trends, keeping an eye on the average search interest of six words: “layoffs,” “severance pay,” “recession,” “downsizing,” “unemployment benefits” and “furlough.”
"Recession," was the most commonly searched word in Austin, earning the city spot No. 4.
Angela Dion is a former tech worker who was laid off from Argo AI, a self-driving car company, back in October. While her layoff was due to a cut in funding, other companies are cutting people off fearing the future of the U.S. economy.
Dion has been receiving unemployment and looking for a new job.
"I have the luxury of having unemployment for a few more months," said Dion. "So, I'm not like super stressed yet, but I have not been finding any jobs at all. I've had a few interviews and that's kind of it."
Dion said when it gets closer to her unemployment ending, that's when her anxiety will peak. Her worry now is not finding a job with the same benefits as before.
"I had all the nice perks of being in a tech job, so unlimited PTO and nice health insurance for 401(k) and all that," she added. "So, it's been hard to find something that's comparable because a lot of places don't take care of me like that."
Snider said there are ways to relieve some of that anxiety.
"I think it's always important to have an emergency fund that's three to six months' worth of living expenses," she added.
Also, if your health insurance is tied to your employment, look to see what options are available, and if a severance package is given, how it would look to extend the coverage beyond.