[thntk]

Isn't it the technological cycle in IT? We have seen PC softwares in the 90s, then web apps, then mobile apps, and now AI services. Except that currently AI is immature, so companies do not know exactly what to do with it yet. They are just conscious about previous cycles, so they overreact with massive layoff to rebudget for whatever new threats and opportunities.

Despite their efforts, I suspect new companies will appear anyway and grow massively like previous cycles, and hiring will increase again. So if you were laid off or a new grad, it seems now is great time for startup, or at least to learn new skills instead of getting rehired immediately by the existing companies.