US, Lead Dev position, I just received a 6.5% pay increase this last month. Folks massively overhired last year, they're mostly still doing fine however, and there's a correction going around for that. It may end up that things get a bit worse this near necessitating what I would consider a _real_ round of layoffs, but we're not quite there yet (Zoom and the like being the exception given their reliance on remote/at-home focused clients).
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