I have friends working in different fields ranging from software, finance, mechanical engineering, food & beverages, FMCG, chemical engineering to hotel business & many more. But I see software industry is the only industry subjected to too many layoffs.
Why do you think this is the case? I want to know the fundamentals of what makes it more vulnerable than any other field. Comment.
Quite straightforward
Tech is fastest growing, and in fast growing spaces you always end up hiring in huge numbers for the future
FAANG even at this would end up growing multiple times faster than HUL/P&G etc. and hence end up hiring basis what they think the need over the next couple of quarters would be.
When the down market hit, this back fired and hence the layoffs
For stable industries it’s very controlled hiring and goes off only in extreme events (ex hospitality staff during Covid)
Agree. 💯.
If I were to exaggerate, software industry is no less than a game of poker.
simple
tech bubble
bubble burst
+1
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