This is entirely anecdotal. A local company here advertised for a developer position that was pretty well paid (regional Australia). They got a lot of interest

This is entirely anecdotal. A local company here advertised for a developer position that was pretty well paid (regional Australia). They got a lot of interest from overseas developers but the really interesting applications came from "system architects" rather than developers. I speculated that the layoffs in Australia are quietly happening amongst tech middle management / developer adjacent jobs but those quiet layoffs are encouraging everybody else to stay put for the moment.