I'm starting to regret the advice I gave my grandson. Well it was more of a support for the decision he'd already made, which was to do a degree in computer science/cybersecurity. But this was about 18 months ago, which was like another world now. Reading this article today is what gave me fears for his dream.
"I live in the tech corridor outside of Seattle and practically no one can find a job in tech. Apparently the costs of AI processors and servers are so expensive that large tech companies are laying off workers to accommodate for the increased infrastructure costs. I would estimate that 50 percent of the people I know in tech are unemployed including myself and my spouse. In addition they are laying off both FTEs and contractors and not backfilling the positions. The problem is exacerbated if you’re over 40 because they don’t want to compensate for experience. In fact experience seems to be working against people. Not to mention AI taking over roles like technical writing and marketing communications. It’s getting really bad out there and the large companies play along with the media. I’ve met with several ex colleagues who have had their entire teams laid off and former FTEs who have had to take major pay cuts as contractors. I’ve also heard of more rounds of layoffs coming up. I went over to Microsoft the other morning to have coffee with an ex colleague and it’s a ghost town. No one in conference rooms or offices. Maybe people are working from home but it sure felt very different."
But there's more than the tech industry going through a rough patch (patch is a word to make it sound like it won't get worse) Read on:
