“My morale for this job is gone …"
Those workers looking for new 100% WFH jobs are in for a rude awakening. The market is not what it was a couple of years ago.
Gotta disagree. The demand for tech workers continues to be voracious. And most employers don’t have the abysmal administrative policies of Amazon.
You’re far better off at a mid-cap firm with management that doesn’t jerk off to Ayn Rand novels than one of the AI obsessed FAANG firms. Take a small salary cut and enjoy a large improvement to your work life balance.
I should clarify that I was referring to the US. And I have to also disagree it’s voracious for all tech workers, that’s why I said depending on your specialty within the IT field. Hell, there was just a post on the r/cybersecurity subreddit the other day with hundreds of comments agreeing that it’s not a great time right now in the US. It hasn’t just been FAANG companies laying off tech workers, it’s been all over:
These are not isolated incidents. According to Layoffs.fyi, 384 tech companies have laid off more than 124,000 employees in 2024, adding to the 428,449 tech workers who lost their jobs in 2022 and 2023.
That’s over 500,000 tech workers in just under 3 years. A huge chunk of job postings for IT jobs are just ghost jobs, meaning they’re perpetually posted without actually ever intending to fill that slot. There are lots of reasons why companies do this, but that’s off topic and lots of articles already cover the topic, e.g. https://stackoverflow.blog/2024/07/15/the-ghost-jobs-haunting-your-career-search/
Anyway, hopefully this slump recovers soon.
Currently, tech unemployment is under 3%. Salaries are 2x-5x the national average depending on specialty. If this is a slump, I’m hard pressed to imagine a boom.
You have to keep in mind we’re coming off a decade of industry growth, particularly in the wake of COVID. These 500,000 jobs are a fraction of the IT jobs created annually.
Demand for IT even in 2023 is up yoy.
I guess the anecdotal evidence I’ve seen among all my peers and social networks contradicts those numbers, so we can agree to disagree. It’s easy to massage those stats, especially with the advent of bullshit jobs like “AI prompt engineer,” as an example.
Anyway, good luck to anyone that gets laid off. Shit sucks regardless, and that was really my main original point.