Is the tech bubble bursting again? The layoffs at Big Tech, starting in 2022, have many wondering if this is just the tip of the iceberg. So what does this mean for these workers and those looking to get into the tech industry, especially as the economic outlook remains uncertain?
Technology is part of our daily lives and is necessary for most societies to function. This growing dependence has led to strong growth in the tech sector and with it the rise of high-paying jobs.
After the industry’s recent struggles, those exorbitant salaries are now under more scrutiny than ever.
“What’s happened in the last three to four years is that wages for other non-Big Tech companies have gone up and a lot of startups are really upset because they can’t burn cash at that rate,” he said. Ben Leong, a professor of computer science at the National University of Singapore, told CNBC.
He added: “The big Tech companies will continue to pay what they used to pay – they always pay a lot.
“I suspect growth in average wages will stall or maybe even drop a bit.”
So is the bubble bursting for tech workers? Watch the video above to learn more.
