Impact of COVID-19 on Big and Small Tech Companies

Abstract

During the pandemic, companies were collapsing like sand. The fate of different industries slipped despite the efforts of owners and CEO. The Tech industry was one of the few that thrived during the pandemic as every business was gradually moving on to the digital platform. Even in the tech industry, only the big companies that already had a massive footprint before the pandemic, like Apple, Google, Netflix, Facebook, and Amazon, bloomed. Many medium-sized and small-sized tech organizations also struggled during the pandemic. The tech companies associated with the travel and tourism industry like Uber, Airbnb, Trip Advisor, etc. couldn’t find any customers due to lockdown. This created an imbalance in different sectors like recruitment, employee retention, etc. Due to this imbalance and lack of cash flow, small tech companies were laying off jobs to survive while the big tech giants were recruiting more employees to thrive. This imbalance in recruitment and lay off created fear of losing or retaining a job in many tech employees whether they were skilled professionals or fresh graduates. This paper focuses on and compares these effects on big tech companies and small tech companies. This paper also suggests steps and solutions for small tech companies to maintain themselves during the pandemic and regain their market position after the new normal.