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If interest rates remain high and capital remains expensive, then yes. The tech job world of the last 2 decades was riding 2 tsunamis, the explosion of the int
by erickj 3y ago
If interest rates remain high and capital remains expensive, then yes.
The tech job world of the last 2 decades was riding 2 tsunamis, the explosion of the internet and 0% interest rates. The last 2 years have put the brakes on both of those fronts. In the developed world the market has become effectively fully saturated with web and app development, simultaneously the ability to borrow money is no longer effectively free.
Both of those changes have halted risky growth opportunities.
tldr; layoffs will continue until money is free again or a new and highly lucrative unsettled frontier is found
- AznHisoka 3y agoWill companies offshore some of that expensive labor then? or will it just not be replaced?
- rossdavidh 3y agoI think most companies that try offshoring dev work (and there have been many) reverse course fairly quickly, for a variety of reasons. However, there were a lot of devs being paid to do things that just didn't need doing, either because it was 10 companies trying to do the same thing, or because it was trying to look good for an IPO rather than solving someone's real problem. There is still lots of real, useful programming work out there to do, but it will take some time for the industry to pivot back towards working on real problems.