Tech Industry Layoffs: Coping Strategies and Impact on Workers

The tech industry has seen a surge in layoffs, with over 50,000 workers laid off from 200 companies since the start of the year, making 2023 the second-biggest year of cuts on record. Formerly highly valued skills in software development and data science are now facing a competitive job market with lower pay and demanding qualifications. The situation has led some to consider leaving the industry altogether, while others have accepted pay cuts to secure new roles. The job market for AI engineers, however, is booming, with salaries rising and rapid hiring and expansion in the field.