The tech industry has witnessed a significant wave of layoffs since the beginning of this year with over 50,000 workers affected across more than 200 companies, extending the trend from 2023. Major players like Alphabet, Amazon, Meta, and Microsoft, among others, have contributed to this downsizing.
While Wall Street views these cost cutting measures positively, employees face uncertainties and anxieties about their future prospects.
The job market appears fiercely competitive with stringent qualification requirements and reduced pay compared to previous roles.
For many, particularly software developers and data scientists once highly sought after skills are now met with limited opportunities and lower compensation. Reports note a stagnation in tech salaries over the past two years, exacerbating concerns.
Individual experiences reflect the broader trend of challenges in finding suitable employment.
Former Google employees also encounter difficulties maintaining previous pay levels. Meanwhile many highly qualified H1B Visa holders face additional hurdles due to rise of bar with regard to talent and output.
Despite a plethora of job postings appearing here and there it is becoming difficult for the senior techies to find right jobs with salaries that make their both ends meet.
Amidst relentless job hunting efforts there's a pervasive sense of insecurity and dwindling options even as optimism persists in some quarters.
