Will this saturate the market for all open programming/software engineering positions? No. Will it disturb the market for engineers expecting to make $500k/yr

Will this saturate the market for all open programming/software engineering positions? No. Will it disturb the market for engineers expecting to make $500k/yr 2 years out of school? Absolutely. But most tech stocks being down 50%+ YTD had already done that. I think there's going to be a lot more layoffs announced from far more companies over the next 6-12 months. I think all of those people will be able to find jobs, but I think many of them will have to settle for significant pay cuts. The insane TCs driven by an inflated stock market that were seen in certain markets/from certain companies are certainly going away for a long while. Personally, I wish that people in our industry would push for a larger base salary-based comp and less stock-based.