Developers were understandably rattled by the recent round of widespread layoffs in the technology industry. The rumors are spreading quickly. Many Businesses have indicated they would be reducing staff. There’s always the nagging thought that “next time it may be me” when you hear a story like this.
Unemployment is a stressful situation for everyone, but it may be particularly difficult for those who have financial obligations. In my perspective, those working in the IT industry have nothing to worry about, and here’s why. As a new business venture is formed every day, the industry continues to expand. The need for programmers, artists, and product managers continues to rise.
However, why is there such a large-scale layoff?
The Nature Of Cuts
Following the devastating effects of COVID-19 in March of 2020, several businesses worldwide put a halt to new hire announcements. Everybody was assigned to work from home. The future was a complete mystery. There was a beginning of a new era, and the world changed. Many individuals lost their employment as a result of the lockdowns, as restaurants were forced to close.
The popularity of online shopping and shipping has increased. Electronic payment systems were much more widely used. In time, vaccination was created. A new dawn had broken for humanity. There was a sudden uptick in economic activity. Governments throughout the world have eased travel prohibitions, and some businesses have summoned their staff back to work.
Nonetheless, they had much too high hopes. We saw a lot of digital enterprises expand. The value of their shares hit a new record high. Every year, businesses increase their workforce. And eventually, everyone saw through the deception. Additionally, Russia initiated the conflict, and the subsequent energy crisis disrupted the existing economic order.
Are Software Devs Really Safe?
The IT industry will keep expanding. The concept of “digitization” continues to be a trendy one. So much more has to be accomplished in that area. In Germany, for instance, some of the largest companies hand-deliver a letter to each shareholder detailing the year’s financial results and dividend distributions. It’s no surprise that software developers are in high demand if we want to keep the digitalization movement going strong. Improvements need to be made to many current systems. Fitness apps, as well as e-commerce, have both had meteoric rises in popularity over the last several years.
It does not imply that everyone will soon transition to the metaverse. In fact, it’s proof that businesses can attract clients from all over the world by using the power of the web. These days, it seems like every other company needs a website, a smartphone app, or some kind of automated fulfillment system. The news that Netflix would be laying off some of its software engineers comes as a surprise at first. Upon more consideration, we see that their joblessness will not last forever.
Our economy is not at its finest during recessions. Nonetheless, every recession is followed by a rebound that ultimately strengthens the economy. There is a greater effect on certain fields than on others. The IT workforce is the least likely to be affected. There should be enough jobs for everyone for at least ten years.