I suspect that any reduction in hiring is more a function of market sentiment than jobs being replaced by AI. Many companies are cutting costs rather than expanding as rapidly as possible during the capture the flag years.
We’ve been seeing layoffs for over 3 years…
That was before the pandemic and AI.
It was predictable that some layoffs would eventually happen, we just didn't know it would be so fast.
I wonder if it's AI, the market, both, or some other cause... :/
You think executives are gonna be saying, “yeah we’re laying off people because our revenue stinks and we have too high of costs!” They’re gonna tell people, “yeah, we definitely got AI. It’s AI, that’s our competitive edge and why we had to do layoffs. We have AI and our competitors don’t. That’s why we’re better. (Oh my god, I hope this works. Please get the stock back up, daddy needs a new yacht.)”
The layoffs started exactly as soon as the US government decided to stop giving free money to investment funds. A few days before they announced it.
A bit before it, it was clear it was going to happen. But I do agree that years earlier nobody could predict when it wold stop.
Depends on where too. Was just talking to a friend yesterday who works for a military sub (so not just software) and they said their projects are basically bottlenecked by hiring engineers.