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Is recession is still going on for software industry or the supply has increased ?

Is recession is still going on for software industry or the supply has increased ?- Grapevine

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Do we still have the impact of recession in the IT market?? If yes, can we see any improvement in the situations in near future?

Associate Consultant

Everyday I am seeing hundreds of job posts when I apply there is absolutely no reply. That got me into thinking whether recession is going on because I am not getting any reply or not as I am seeing hundreds of job posts !

Is recession still going on or not ?

Software Developer

Is the tech. industry declining? What should the newcomers know before opting for this particular career path? Is there anything to fear about? A hype about the tech. jobs in society and especially in families of students choosing their career has made me ask this question. I hope a clear discussion with people who actually know about it will help.

Recession and increase in unemployment

Welcome to Product Managers's Private Community

Ask me anything except my company name, or things that can reveal my identity. I may respectfully choose not to respond to your question based on my own judgement.

Here’s a brief intro about me: I’ve worked as both software engineering manager & software technical architect over the last 18+ years on various tech stacks managing backend, frontend and a little bit of cloud. I have seen ups and downs in the software industry. Currently I’m working as a senior architect in one of the product based companies in India.

I’ve been an Engineering Manager before. Ask me anything.

Software Architect

Why Tech Layoffs are Still Continuing ?

How long will it take to recover from recession?

Mostly businesses are out of India and IT engineers are in India due to which in India also layoffs are continuing so how to get rid off?

Is AI playing major role in layoffs or its due to recession?

As a support engineer what should be the next career path should take like DevOps , Development or Management etc.

When does IT recession get stable again ?

Support Engineer

Welcome to Indian Startups's Private Community

Ye recession kab jayega.. din bhar me 20-30 jagah apply krta hu to agle hi din 10-15 jagah se rejection mail aa jata hai.. ab freshers hone ke naate kuch hwa nhi lgta ki Karu kya ab .. kitna accha project banau ..

Badi samsya hai bhai lyf me .

Recession ka अंत lekin kab ??

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Today evening Google’s VP of Recruiting had an all hands call with global recruiting team to tell them that there’s more layoffs happening in recruiting and people will find out about it through emails in next couple of hours.

Such a shitty time to be alive.

Google Layoffs - Recruiting

This is so sad, petition for Grapevine to start a jobs section to help people who get laid off

Product Manager

Program Manager

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Flipkart announced no increments for this year above a particular grade. Mid-senior to senior folks are going to miss out on increments basis the last appraisal.

Flipkart has frozen increments

More than 200,000 tech workers have been laid off in the U.S. between November 2022 and January 2023

Less revenue for US Companies -> Less revenue for IT Outsourcing -> More employees on PiP -> Layoffs 

Is this cycle right or am I missing something?

US Recession and Indian IT Service Companies Layoffs [Assumption]

Analyst

I agree inflation is everywhere, Recession is going on ,AI is here to help you increase your productivity or to eat some of the jobs too , Many Indian expats are returning to India , at the same time many of them are also giving up Indian citizenship, i know tech is booming in India but on the other hand we became the most populous country in the world , unless you are from top IITs Nits and iiits or top B-schools , it's very difficult to secure good headstart at entry level in such a competition, although in the long run experience matters but it's really difficult to secure good entry level jobs so what you will suggest:-

1.Keep on fighting in such a pool of applicants in govt job , other entry level jobs with Tier 1 candidates or in cat for tier 1 b schools(according to me tier 2 and tier 3 b-schools aren't worth the time and money) as a GEM

2. Go for masters abroad in a good university within 1 year or 2 , live frugally for 2-3 years there , earn good money , repay the education loan( if taken) , save for 8-10 years and then return to India to either diversify the sources or invest smartly

Just give your honest opinion

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Young SWE start with double digit salaries, while someone in Non tech will need 5-10 years to reach that level
Even the business roles, the direct revenue generating roles don't pay good traditionally

Funny how techies think everyone gets paid similar
A lot of it changed with startups trying to acquire talent, but not sustainable
Because the market simply doesn’t pay

How do non tech compete with this skewed demand-supply chain?

Tech and Non tech Pay Partiality is something no one talks about

Engineers deserve their pay.  
  
 1 - The code that engineers write are assets of a company. The code might keep running and serving customers for years after a engineer has probably even left the company.  
 On the other hand, the work that most non-tech folks do are not assets, but an operational expense.  
  
 Companies don't derive benefit of a non-tech even beyond the same month the work is performed.  
  
 The difference is the same as painting your house vs brushing your teeth. You don't paint your house everyday but you do brush your teeth. Painting here is a long lasting asset, adds to the value of the house. Brushing is necessary work but with ultimately perishable benefits.  
  
 2 - Code that engineers write provide non-linear benefits. A team of 30 in Zerodha were able to serve 3-5x more customers in the pandemic. This same scalability does not apply to non-tech majdoori. Business has scaled? Hire more heads. Not with code. 
  
  
 Obviously above does not apply to senior managerial folks who build and architect the organisation, set the cultures, create processes. The impact of their work is long lasting and non-linear. But work of junior business non-tech folks - well, they're getting paid as much as the value they create. Low leverage, low pay. Coding is very high leverage. 
  
 Before you jump on me, I worked for sales in years. Then shifted to product. Above two points are a reality whether you like it or not.

Consultant

Warning bells of economic uncertainty, by sridhar vembu.

Yeah.. mid yeat bonus time.. so obviously the economy has slowed down. I thibk it will pick up after oct. Next slow down will come around april next year. This is cyclical.  
 Any time now a ceo/md will come and say we need to work twice as hard inorder to survive this , " perform or perish".. etc. 
 Since y2k, the end of world has become a cliche.

Is it good to switch to other company. How's the recession and layoff scenario in IT industry

Saw a similar post somewhere from an European and I think it’s pretty valid for India.

For context, I am in my early 30s, a home owner, living in tier-2 city with a pretty high salary. Recently got married and my wife also works as an Enterprise AE for a listed US company. Our cost of living is pretty low given the house and tier-2 city. Even if we had a kid, the overall cost of living will not change a lot. 

I got to where I am, economically, by a combination of hard work and luck. Luck definitely was a huge part of it. Knowing the right people at the right time, working on the right technologies helped a lot more in advancing my career a lot more than grinding for good grades. Even the ability to buy a house without much debt, was partly because I was lucky to sell my shares in a fairly small startup. 

It would be easy to say things aren’t economically bad based on my own experience or that of my close friends. However, when I look at things more objectively, I can’t help but come to the conclusion that we are screwed as a generation. Except for maybe the top 1%, salaries are not keeping up even with inflation. Housing costs, specially in tier 1/2 cities are unbelievably high even if you want an average apartment. Jobs are no where to be seen. The whole generation is living in the hope of the stock market rally never ending. This seems completely unsustainable as a nation. I might be doing well for now, but I still recognise how these are real problems for most Indians, who’ve been waiting for India’s century for 20 years

Given that the services industry contributes more than 50% to the GDP, the current state of joblessness, the overall sluggishness in IT and related sectors, and the fundamental changes happening to the way IT services now work, I wouldn’t be surprised if we see a complete recession in the next 4-5 years.  

Lately, there has been a lot of criticism of anyone expressing anger on how bad things are but I think it’s helpful to talk about this.

Is it possible for those doing well to still acknowledge how our generation is screwed economically?

Great post, I was thinking to jot down something similar.     
 The way I see is that our generation(I'm Gen Z), is financially fucked due to 2 main behavioral changes:     
 1. Increase in consOOmerism: We're zoomer consoomer. GenZ is known for show off culture. We will buy the latest and greatest phones on EMI every 2 years. People spend thousands on sneakers, bags, branded clothes.     
 2. No Savings: People are no longer saving money. My then girlfriend used to got mad at me in market when I tried to bargain. Its considered a turn off lmao. People find bargaining bad now... like I'm looting a poor guy. People don't realise how much our parents sacrificed and bargained everyday to save money.

This 0% recession in India doesn't look convincing. The job market is still in a slump, firings are going on. And this will be a ripple effect on other sectors.

We've witnessed so many layoffs in the past year and this continues to be an upward trend. Bangalore is a city of IT professionals and these layoffs seem to have no effect on the real estate. 
Is this because the numbers are negligent? I don't think that's the case, my company has been laying off people since last year. It was never public. I'm sure there are lots of such companies. 
What are your thoughts?!

How is there no correlation to layoffs and Real Estate?

There is a lag effect, give it a few months and you will see rents and prices not increasing anymore

Germany and many other nations on border line.

Impact on India viners?

UK under recession 💣💣💣

Senior Consultant

Hello Folks! 
I'm a newbie on this platform, yet trying to put my insights as much as possible. Here to ask people out there who work in IT sector about how is the market going so far and when will this recession get down? To the on-campus and off-campus placed students, how did you manage to get placed even during the recession. Although the placements at our college is still on but only for Non-IT branches. I think the only people who are happy about the recession would be Non-IT people who have less competition and are getting placed at the core companies.

Is recession is still going on for software industry or the supply has increased ?

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