The Startup Job Market
My colleague Matt Cynamon told our partnership last week that the number of jobs on the USV job board had declined from 1,553 to 871 in the past month. So we suggested he share that data and some observations on the USV blog. He did that yesterday.
Here is the chart of open jobs on the USV job board:
A large number of those 871 open jobs are in a handful of larger USV portfolio companies that are leaning into this moment to build their teams. Many USV portfolio companies have frozen hiring or have tightened it significantly. And there have been reductions in force as well in some parts of our portfolio.
But all is not bleak. Matt ends his post with the following observation:
In our next post we’ll explore some areas where we’re seeing major opportunities for job seekers.https://www.usv.com/writing/2020/05/how-covid-is-impacting-hiring/
I am hopeful that hiring will start to pick up in our portfolio in the second half of the year as our portfolio companies start to understand where their businesses are now and where they are headed this year and next.