The article discusses the potential for a “white-collar recession” in the tech industry, where highly-paid jobs in fields like software engineering and product management are at risk of being cut. Key points include: 1) Major tech companies like Meta, Amazon, and Twitter have already announced significant layoffs, with more expected in 2023. 2) The pandemic-fueled tech boom is over, and companies are now focused on cutting costs and becoming leaner. 3) While the overall job market remains strong, white-collar workers in tech may face increased competition and job insecurity. 4) The impact could ripple through local economies that rely heavily on the tech industry. 5) Workers are advised to update their resumes, build their professional networks, and consider developing new skills to remain competitive.
Source: https://www.businessinsider.com/insider-today-white-collar-recession-tech-jobs-2024-11