Layoffs have gone from taboo to fashion after the pandemic. The world is becoming skewed in terms of opportunities. The engineers chasing trends, and the corporate juggernauts trying to survive the trends. How is this transformation affecting the profession?
Why so many layoffs?
The pandemic remote hiring on steroids seems to be the prominent factor. The governments were pushing cash into the markets to alleviate the pandemic-created crunch. The liquidity ended up in the coffers of the conglomerates who chose to believe the show would continue. But there are caveats yet to be understood.
Looking at the posts on social media portals seeking jobs, it is evident the pruning was across the hierarchies and years of experience. The trends suggest an attempt to pivot. For someone like me who has seen three earlier sudden transitions of job markets in 2001,2008, and 2020, the current events were imminent. I cover these basics in my course about personal finance (reach out the discount coupons).
What are the takeaways from uncertain times?
Understanding your necessities and then choosing a professional is the only solution. The talks about passion and motivation to improve by 0.1% every day are nice, but the speakers never pay the bills of the audience. Being aware and prepared is possible to survive. In recessions, survival is victory.
A career in software is high paying but short. The longevity of a career has to be compensated with an investment. People who take risks on both fronts might not get a second chance. For example, consider a recent graduate on an H1B visa who got the dream job with a ton of equity that will only vest after a year and starts dumping money in crypto markets, receiving news about getting laid off.
Conclusion
The metamorphosis of the ad fuel tech seems to be pivoting to leaner infrastructure-heavy roadmaps. The software engineers are no longer the beautiful butterfly; they are the cocoons. Following courses can help you pivot in your career.
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S.D.L.C: Third World Programmer’s Life Cycle
A book about the career decisions made by a programmer in the third world explained by a third world programmer.