Thirding this, group manager at Microsoft. Throwaway as I post regularly under my professional account.

VPs have been explicit, in writing, that we are shifting heads to lower cost geos.

Hiring has been largely halted in the US for the bulk of non-business-critical roles to shift PCNs overseas, and there have been multiple waves of US focused layoffs to motivate this further.

While offshoring has been a topic for the last 20+ years of my career, this time, since 2022 or so, feels different even vs. prior recessions, and I expect we'll see continuing erosion in the quality of engineering positions and careers.