Between the Fed tightening demand and the AI tools simultaneously heating up supply (productive output), it's no surprise these layoffs are happening.
But the rest is definitely Fed policy; they specifically said they wanted to cool wages, and I think maybe in cahoots with shareholders - remember that guy bleating about google employees earning $200k+, and that it 'should' be more like $100k if they're lucky and BTW, give the resulting increased profits to us shareholders.
Tell me you're not an engineer without telling me you're not an engineer
¯ \ _ ( ツ ) _ / ¯
I consider one person knocking something out in one day that would previously have taken them 10 days of wrestling with to be a 10x increase in productivity.
And I'd consider one person building a proof of concept in a couple hours that would have taken 5 people 10 weeks of back and forth meetings, planning, pushback and reluctance to be a 1000x improvement in productivity.
These tools are seriously reducing the bar for knocking stuff out that would have previously required much more significant time investment and risk to even consider let alone tackle.
I've personally used copilot and chatgpt to implement things that would have taken me months of study and wrestling with in just a few hours.
Huh?