It's worse then 10 years ago. Idk why everyone who comments on the job market only looks back to the covid year
If you look at employment in, for example, NAICS 518 "Computing infrastructure providers, data processing, web hosting, and related services" which is one of the larger BLS categories for our industry, the numbers are at all-time highs, having doubled since 2011. An example of a bad job market for software developers was 2001-2011, when this sector shrank by a third.
Is that really representative of what people mean by tech? Or does that include companies that happen to make software?
Hi is the need for employees related to profit?
Nobody seems to want to answer the question so I assume nobody wants to confront that a company isn't the bad guy when it fires people it doesn't need. And, if it turns out it did need them, the company will suffer. Usually that doesn't happen though and so I tend to trust that these companies understand their business needs more than I do.
It sucks when people lose their jobs but if there's no job at their company for them anymore, their employer isn't a charity. Just like if a company could no longer afford to pay they employees, the employees shouldn't hang around and work for nothing. You might as well be demonizing people who file for divorce for making their partner single.
Then your company has a reputation for being unreliable for stable employment and people that can pick where they want to go will go else where. It also kills morale and remaining high performers will go somewhere else. Now the company laying off is stuck with low performers that don't have other options.