Briefly: It is no secret that the tech business is without doubt one of the best-paying sectors within the job market, however with that profitable paycheck comes concern of being laid off, lengthy hours, and excessive pressures, and it is turning many executives to drink and medicines.
A survey of 500 tech execs (administration degree or above) by well being firm All Factors North (APN) exhibits leaders are more and more depressed and anxious about their future, and as such are turning to substance misuse and pharmaceuticals as coping mechanisms.
The tech business has seen tens of 1000’s of individuals laid off this yr on account of the shaky financial system and overhiring in the course of the pandemic. Amazon alone has laid off over 20,000 staff
Nearly 40% of survey contributors have skilled elevated nervousness and/or despair on account of these layoffs, whereas 77% say they’ve negatively impacted their well being.
The opposite huge concern for tech execs is the rise of AI. Corporations akin to IBM have mentioned they intend to cease hiring for jobs that could possibly be carried out by generative synthetic intelligence, which is predicted to affect 300 million full-time jobs globally. Nearly two-thirds of contributors say AI enchancment and the considered being changed by a pc have negatively impacted their well being, whereas 31% are anxious an AI will take their job.
Practically 80% of tech staff are utilizing drugs, both underneath a health care provider’s supervision or in any other case. 32% mentioned they devour managed substances to carry out higher and address lengthy work hours and excessive stress: 45% use painkillers akin to OxyContin, Vicodin, and Codeine; 34% use stimulants together with amphetamines like Adderall; 36% use antidepressants; 35% use sleeping capsules; and 26% use SSRIs.
Extreme alcohol use was additionally a typical issue amongst contributors. Half of them admitted to ingesting 3 to 7 alcoholic drinks per day, qualifying them as heavy drinkers. Some mentioned they devour alcohol or managed substances simply earlier than or throughout work, whereas round 3 in 10 have elevated their alcohol consumption on account of stress relating to layoffs and AI.
“This business fosters a fast-paced, bold atmosphere and requires a singular method to therapy. It is time for the tech business to get up and destigmatize substance points so each worker feels snug looking for and receiving the assist they desperately want,” wrote APN.
Bloomberg’s Billionaire Index exhibits that each one however two of the richest people on the planet come from the know-how business – they’ve additionally been making a mean of $14 million per day over the previous six months because of a broad market rally. However for a lot of of these in on a regular basis govt positions, the truth is a job full of a lot stress and fear that it could result in prescription medicine, alcohol, or drug use to manage.
