Layoffs are a reality; are you still sleeping?
But what's the problem?
While global economy is easy to blame, and no one really knows what's actually happening in the global economy, the top reason emerging out is that the IT force is underprepared for the latest technologies. McKinsey informs that about 50% of the IT workforce is likely to become 'irrelevant' in the next 5 years. Add automation to the problem and we don't see any ray of hope.
From my personal experience, I can definitely say that the adoption of newer technologies is super slow. Finding skilled engineers is a HUGE problem and I can say that because at CrazyEngineers, we've been head-hunting for the last few months; but not able to find the right engineers. If CrazyEngineers, with ready access to large number of engineers has the problem, I can only try to imagine how difficult it is for startup companies to find the right people who can be put on projects with minimum hand-holding.
Extreme lack of awareness!
What worries me more is that most of the engineers, both working professionals and engineering students lack the awareness about what's happening in the industry. I recently talked to a fresh engineering graduate who's undergoing certification courses to be 'job ready' and I was appalled by the limited knowledge he had about the field he's preparing for. Apparently, the Internet is limited to Facebook and Instagram these days.
What's the solution to the problem?
The problem is huge, people don't know about it and I'm not sure what exactly is the right way to address it. Layoffs are going to be bad and those with EMIs or educational loans are going to face the heat.
Is there any way we can help all our fellow engineers? Let me know.