I think partially the reasoning behind mass layoffs in tech are managers with glowing eyes and wet pants (and possibly white powder around them noses) euphoric about how they finally can get rid of those over-payed developers. Well, now it's a bit hard but in 1.5, max 2 years when Ivory Tower will have started to fall off I expect the need for developers will rise again and wages will break historical maximum.
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I think partially the reasoning behind mass layoffs in tech are managers with glowing eyes and wet pants (and possibly white powder around them noses) euphoric about how they finally can get rid of those over-payed developers. Well, now it's a bit hard but in 1.5, max 2 years when Ivory Tower will have started to fall off I expect the need for developers will rise again and wages will break historical maximum.