Oct 13 (Reuters) - Late-stage U.S. startups are scooping up talent unlocked by layoffs and hiring freezes at Big Tech, adding experienced engineers and project managers to their roster despite signs of an economic slowdown.
A survey of 581 executives, almost entirely from U.S. tech startups, showed that more than 40% of them boosted their hiring plans in the first half of 2022, according to hiring firm A.Team and startup consultant MassChallenge.
Companies are also shortening hiring times and offering higher pay packages to lock in candidates as they compete for talent in a tight labor market, recruiters said.
Still, some analysts warn there is only so long until startups can continue the hiring pace amid a weak economic backdrop.
"If the economy does indeed go into recession, it will only add to the pressure faced by tech firms as demand dries up," says Dante DeAntonio, director of economics research at Moody's Analytics.