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If you're sending 2500 applications, you're not doing custom resumes or cover letters, or even much seeing if you fit...

I generally change jobs every 2 years for the last 15 years. I have never used a cover letter. Your mileage may vary but I think they are generally ignored.

What's a cover letter? I've never submitted one of those for a software engineering job.

Send in a resume, of which there are only a few categories of customization. Certainly no need to customize for each specific company for SWE.

Who writes cover letters or modifies their resume per role? It's all spray and pray.

I spend a great deal of time on the cover letter, and I do modify my CV for the role (mainly to keep it to a reasonable length).