More computer engineers are returning to Wall Street as tech companies pause hiring and lay off employees, the Financial Times reported.
"We definitely have seen an influx in candidates coming from Big Tech, crypto and top-tier start-ups," Josh Woods, head of systematic trading technology at Citadel Securities, told the Times in the Sept. 11 story. He said applications for tech positions at his company more than doubled in the most recent quarter.
Executives told the newspaper that the finance industry's relative stability has made it an attractive destination at a turbulent time for the tech sector.
"Candidates are looking at the job market more realistically now, similar to how investors in downturns really look at value and fundamentals," Mr. Woods told the Times.
Market volatility has also boosted trading volumes at companies including Intercontinental Exchange and Cboe Global Markets, which has expanded its tech teams by more than a quarter in 2022, according to the story.