Laid-off techies face 'sense of impending doom' with job cuts at highest since dot-com crash
Publishing timestamp: 2024-03-15 17:22:54
Summary
Tech layoffs are at their highest since the 2001 dot-com crash, making the job hunt harder for many in the industry. More than 50,000 positions have been cut at over 200 tech companies since the start of the year. Many laid-off employees are struggling to find new jobs and are being forced to settle for pay cuts. The job market is increasingly competitive, with job listings requiring advanced qualifications and offering lower pay than before. Despite some sectors like AI experiencing rapid hiring and salary increases, many tech workers are facing challenges in finding new employment, especially for visa holders like H-1B holders. The sentiment among tech workers is mixed, with some feeling the pressure of layoffs and demanding hiring processes, while others are trying to stay optimistic in the face of uncertainty.
Sentiment: NEGATIVE
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