July 14th, 2023, Shinmin Bali
While news surrounding tech layoffs have dominated headlines in the recent past, it hasn’t been the only sector impacted. Industries such as advertising agencies, media networks and others exercised workforce reductions too.
More recently in Britain, satellite TV network Sky was reportedly looking into cutting “hundreds of jobs” as it plans to make a strategic shift from DTH to OTT. This was preceded by reports of BuzzFeed News shutting shop.
Just how likely do Britons who work in media, marketing, advertising, PR or sales industries think they are to face layoffs in the next 12 months?
Likelihood of being laid off
According to YouGov Profiles - which covers demographic, psychographic, attitudinal and behavioural consumer metrics - people who work in these industries are slightly more likely than the general public to think that they will be made redundant in the next 12 months (13% vs. 10%).
Still, a majority of people who work in media/marketing/advertising/PR or sales show confidence they will retain their roles over the next year, with 52% say it’s unlikely they’ll lose their job, and that compares to 45% of the public.
Open to switching careers, conditions apply
Profiles data also suggests that despite the uncertainty in the job market, switching jobs is not out of the question for media/marketing/advertising/PR and sales professionals in Great Britain, as long as money is not an obstacle. Over half (54%) of this group of professionals would switch careers if money was not an option, much higher than the figure amongst the general British population (31%).
By comparison, only a small proportion of Britons working in media/marketing/advertising/PR and sales and the general British population would not consider switching careers (16% vs. 15%).
Outlook towards business activity
According to YouGov Profiles data, over a third (35%) of those working in media/marketing/advertising/PR and sales expect the level of business activity at their place of work to be higher in a year from now (vs. 20% of the general public). Where 27% of media professionals expect there to be no change, 12% of this group expect business activity to be lower (compared to 32% and 10% of the general public respectively).
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Methodology: YouGov Profiles is based on continuously collected data and rolling surveys, rather than from a single limited questionnaire. Profiles data for Great Britain is nationally representative and weighted by age, gender, education, region, and race. Learn more about Profiles.
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