I think this is just the correction that was inevitable as hiring had become a cargo cult.
Everyone was hiring so everyone felt compelled to hire, creating a feedback loop of insane wages and offers.
Now its time to pay the bills and many organizations realize the engineers they hired cannot possibly provide the value necessary to keep their job.
I know one individual who got hired as a Sales Engineer for a platform and they have almost no work lined up for him... for 4 months now... He just sits making north of 200k for monitoring slack and answering community questions.
You can tell which companies actually had a cost benefit analysis for their hires and they continue to hire for the roles they need, where as others over extended and have to layoff.
Everyone was hiring so everyone felt compelled to hire, creating a feedback loop of insane wages and offers.
Now its time to pay the bills and many organizations realize the engineers they hired cannot possibly provide the value necessary to keep their job.
I know one individual who got hired as a Sales Engineer for a platform and they have almost no work lined up for him... for 4 months now... He just sits making north of 200k for monitoring slack and answering community questions.
You can tell which companies actually had a cost benefit analysis for their hires and they continue to hire for the roles they need, where as others over extended and have to layoff.