As AI based development processes continue to improve, the confidence level employers will have in safely cutting jobs will increase. The longer term impact of AI is HR savings rather than introducing new capabilities into business.
I tend to agree, although this goes against the Dwarkesh narrative (apparently matching current SV zeitgeist) that there is some insatiable demand for "warehouses full of genius coders". If there really was demand for more coders (especially at the high prices the AI companies are hoping for), then companies would be hiring the unemployed developers available right now, not laying more off.
I wonder how many CEOs or CTOs appreciate the massive functional gap between an AI coder like Fable and a human developer - full general intelligence, with continual learning, theory of mind (so they understand what the boss wants, not just what s/he says), etc... all available now, not some 5-10 year AGI/ASI stretch goal (that may in fact take much longer - artificial brain, not just "AGI") ...