Big Tech's hiring freeze unlocks rich talent pool for U.S. startups

FILE PHOTO - Commuters pass through Grand Central Terminal in New York, November 12, 2012. REUTERS/Andrew Burton

(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.

Companies, with steady cash flow from viable products in the market, are offering rich pay checks to lure talent that would have otherwise preferred working at big technology firms including Microsoft Corp and Facebook-parent Meta Platforms Inc.