This is a chicken and egg problem that I believe exists in Computer Engineering/developer positions because of i) the extremely diverse background of hires (some of them not being engineers or mathematicians or physicists per se i.e. could be coming in with a bio background (ML usually), no degree at all (perhaps a bootcamp -- usually front end work), or other) ii) a lot of businesses do low hanging fruit work with little novelty, iii) a lot of cost can be thrown to "buy more hardware/server time," iv) low quality is not just advised but sought for.
Because of the usual lack of rigorousness -- e.g. most companies will not require you to prove that the system is going to be up for 99.9999% of the time, the load balancing is optimal, the abstract queue in our system is not going to diverge (when it does inevitably we will just reboot and keep doing it until we get more funding) -- the expectation and targets is also to avoid it.
Most developer positions are doing essentially the equivalent of designing over and over the equivalent in civil engineering terms of one or two story buildings.
There are positions that will exercise one's engineering skills (including math). However, the culture and expectation of "math person" does not promote them. Graphics, cryptography, distributed/byzantine systems (I don't mean using AWS here), optimization, ML (new algorithms/improvements), maps, are some areas that one's cs/math/engineering skills can be used at.
But note that when any X of those areas become trendy there is the gut reaction of an "intro to X for programmers" coming out that is a couple of hand-wavy sketches, some sketchy intuition -- most often wrong in the details -- and an API guide.
Having done my undergraduate in Europe, every year was math heavy -- math was the core not the attrition machine. And I do see this mentality in the U.S. startup industry where a lot of times the Edison approach is taken of trying every single filament width choice on a mock-up instead of doing a quick calculation.
Having taught math to undegrads in the U.S. and from discussions with people that TA'd, I would agree with you that the math curriculum needs to be revised from the ground up as being extremely inadequate. On the other hand, most software "engineer" positions, do not require any engineering to be done.