Not a day goes by without a tech company announcing major job cuts. Today Paypal and Block (both payment service providers) have announced a total of 3500 job cuts, and recently Salesforce, Microsoft, SAP, Google, Ebay etc. have also done so. According to
https://layoffs.fyi, 25,000 documented tech jobs have already been cut this year.
What do you think? Is it just a shrinkage and normalization after the strong build-up of the workforce during Corona or a long-term trend that will accelerate through the use of AI?
one thing that is common with most firms is that it's there general nature to look out for ways of cutting down cost and one of the easiest ways of doing so is by laying off workers and and look out for ways to work with a limits number of staff and at the same time meet the requirement of the job.
The major thing to take out of this is that as much as AI is replacing some work and workers are being played off, their are individuals in those firm that regardless of the need of the company to lay off workers, they will never consider dropping them for any reason because of the value that they have. And this should only challenge you to become more valuable and skilled at whatever tech job you're into so when the possibility of laying off workers comes in, you wouldn't become the nearest option to be considered.