The Ebb and More Ebby of Technology Full Time Jobs
May 19, 2023
Note: This essay is the work of a real and still-alive dinobaby. No smart software involved, just a dumb humanoid.
Do recent layoffs herald a sea change for the tech field? The Pragmatic Engineer and blogger Gergely Orosz examines “What Big Tech Layoffs Suggest for the Industry.” Probably not much, we think. Gergely penned his reflections just after Microsoft axed 10,000 jobs in January. Soon after Google followed suit, cutting 12,000 positions. Gergely appended a note stating those cuts strengthen his case that layoffs are significant. He writes:
“The layoffs at Microsoft suggest that in 2023, the tech industry may stall growth-wise. By cutting 5% of staff, Microsoft reduces its headcount from 221,000 to around 211,000. We can expect that by the middle of this year, the company’s headcount will increase, but only modestly, and still be below the 221,000 figure it was at last July. … Microsoft’s layoffs worry me precisely because the company has a very good track record of predicting how the business will grow or shrink.”
Okay, so Microsoft and other “nimble” tech companies are responding to market forces. That is what businesses do. Gergely himself notes:
“It’s certain we’ll see a correction of 2021-22’s hiring frenzy and it’s a given that Big Tech will hire much less this year than in 2022, while the question remains whether other large tech companies will follow suit and announce layoffs in the coming months.”
Well, yes, they did. Nevertheless tech workers, especially developers, remain in high demand compared to other fields. And when the proverbial stars align, hiring is sure to surge again as it did a couple years ago. Until the next correction. And so on.
Cynthia Murrell, May 19, 2023
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