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Comment by honungsburk | Hacker News Reader

I live in a European country and our salaries will not go down nor do I expect any layoffs. Your question is very US/Silicon Valley centric.

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Europe is in for a very long decline. There is no consumer generation (35-45 y/o) left in Europe, and the US is about to block Europe from exporting their excess production to the last standing consumer generation on the planet.

Which one?

The US is threatened by the rise of both China and India. India seems to be quite capable of sabotaging itself however.

No, I also live in an European country and I've heard about several companies around starting to freeze the hiring and doing some lay offs.

What? The European economic outlook is substantially more dire than in the US. The knock-on effects of EUR depreciation alone will be massive.

Big advantage of the EUR depreciation is that hiring talent in Europe is now cheaper for US companies.

Given the rise of remote work, cultural proximity, excellent English skills in Europe (I even heard that there's a country that's full of native speakers although they do have a slight accent and an obsession with tea) this might not work out so badly for _some_ developers.

Not likely if the comments elsewhere are true as there seems to be quite a shortage of tech workers in the UK.

I live in Sweden and I've seen several big names in tech lay people off this year. Klarna, Boozt, Kry, Storytel, Voi.

Seconded, actually we just got a 2 digit raise this month on our base salary, and on top of a massive hiring target for 2022.

Salaries won't go down but they will be inflated away.

It's why Fed/ECB targets 2% inflation, to keep the treadmill moving.

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