Applying for tech jobs online has become an increasingly futile exercise for many in the industry, a reality that Glenn Kugelman faced after losing his job as an online marketing specialist at eBay. After months of submitting applications to no avail, Kugelman turned to a creative solution. Armed with paper and duct tape, he blanketed Manhattan’s streetlight poles with 150 fliers over three months, declaring in bold letters: “RECENTLY LAID OFF. LOOKING FOR A NEW JOB.”
Kugelman’s story, though unconventional, is a reflection of the broader struggles now facing thousands of tech workers. The industry, once renowned for rapid job growth, high salaries, and endless possibilities, has taken a sharp turn. The tech boom has fizzled out, and the jobs that once seemed so secure are vanishing—potentially for good. As companies tighten their belts and cut positions, it’s becoming increasingly clear that these roles won’t be returning anytime soon.
The Boom Turns to Bust
At the height of the COVID-19 pandemic, tech companies experienced an unprecedented surge in demand. With the world forced into remote work and online services, businesses scrambled to adopt digital solutions. Tech giants such as Amazon, Google, Meta, and countless startups went on hiring sprees, offering high salaries and perks to attract talent. The pandemic’s demand for cloud computing, e-commerce, digital advertising, and remote work solutions seemed to ensure endless job opportunities.
But that boom was built on unstable ground. By 2022, cracks began to show. As the global economy started to normalize, demand for many of these digital services plateaued. E-commerce slowed, online ad revenue shrank, and companies realized they had hired far beyond their needs. Coupled with increasing economic uncertainty and the impact of rising interest rates, tech companies were forced to make tough decisions.
Major layoffs followed. Meta slashed 13% of its workforce, cutting more than 11,000 jobs. Amazon laid off over 18,000 employees. Even Google, long seen as a bastion of stability, announced layoffs. Across the board, startups and large corporations alike were downsizing, with many smaller firms going under entirely. The once booming tech sector had suddenly found itself in a period of contraction, and the outlook remains bleak.
Changing Priorities in the Tech Industry
The tech industry’s job market woes aren’t simply a temporary setback but a reflection of a deeper shift in priorities. In the early days of the tech boom, companies were focused on rapid growth at all costs. Startups would burn through venture capital to scale as quickly as possible, while larger companies poured billions into experimental projects that might not turn a profit for years, if ever.
Today, those strategies have fallen out of favor. Investors are now demanding profitability and efficiency, leaving tech companies with little room for the speculative projects of the past. Startups are under pressure to become self-sustaining much faster, and many are being forced to shut down when they fail to achieve profitability. Meanwhile, tech giants like Amazon and Meta are scaling back ambitious, expensive projects in areas such as virtual reality and autonomous vehicles.
This change in focus is also leading to a reassessment of workforce needs. Many companies have realized they overhired during the pandemic, bringing on more employees than their businesses can sustain. This has led to widespread cuts, particularly in non-core areas such as marketing, HR, and even software development. And with advances in technology like automation and AI, companies are finding that they need fewer people to achieve the same results.
Why Tech Jobs Aren’t Coming Back
The disappearance of tech jobs isn’t just a response to temporary economic conditions—it’s part of a long-term structural shift in the industry. Several factors suggest that the jobs lost in recent rounds of layoffs may not be returning anytime soon.
1. Automation and AI: Ironically, the very technology that has driven the growth of the tech sector is now making many of its jobs redundant. Advancements in artificial intelligence, machine learning, and automation have significantly reduced the need for human labor in areas such as data analysis, software development, customer support, and marketing. As companies turn to these technologies to streamline operations, the demand for middle-skill tech workers continues to shrink.
2. Remote Work Saturation: During the pandemic, the rapid adoption of remote work technology led to a boom in companies offering collaboration tools, video conferencing, and productivity platforms. But now, with the pandemic receding, the demand for these solutions has leveled off. Companies no longer need to invest heavily in new remote work technology, leading to fewer job opportunities in these areas.
3. Cost-Cutting by Tech Giants: The days of lavish spending on moonshot projects and unprofitable ventures are over. Companies like Amazon and Google, once known for funding futuristic projects, have shifted their focus to cutting costs and maximizing efficiency. Projects like drone delivery and autonomous driving, once seen as the future of these companies, are being scaled back or canceled entirely. As these companies tighten their budgets, they are opting for smaller, leaner teams to do more with fewer resources.
4. Global Economic Pressures: The broader global economy is exerting significant pressure on the tech sector. Rising interest rates, inflation, and geopolitical instability—particularly the strained relationship between the U.S. and China—are contributing to slower growth and increased caution. With economic uncertainty hanging over the industry, tech companies are being forced to be more conservative in their hiring practices.
A Tough Road Ahead for Job Seekers
For professionals like Kugelman and others searching for tech jobs, the outlook is bleak. Online job boards, once filled with an abundance of tech openings, have become sparse. And the few jobs that do exist are attracting intense competition, with hundreds or even thousands of applicants vying for a single position. This hyper-competitive environment is a far cry from the once-booming tech job market, where just having the right skills could land you a high-paying role.
The supply of tech talent is also outpacing demand. Universities continue to churn out graduates with degrees in computer science, engineering, and related fields, further saturating an already crowded market. While top-tier graduates from elite institutions may still find roles, mid-level professionals, especially those in non-technical roles, face an uphill battle.
Even those who are still employed in the industry are grappling with growing uncertainty. Job security, once a hallmark of the tech sector, has eroded. Companies are continually reassessing their needs, and workers find themselves vulnerable to layoffs as businesses pivot to new strategies or scale back operations.
A New Reality for the Tech Sector
The shift in the technology job market is more than just a correction—it’s a new reality for the industry. Tech companies, once synonymous with innovation and boundless opportunity, are now focused on survival, profitability, and efficiency. For workers, this means fewer opportunities, greater competition, and more uncertainty about the future.
Kugelman’s experience may be a preview of what many tech workers will face in the years to come: an industry where job openings are few, competition is fierce, and creativity and persistence are required to secure a position. As the tech sector continues to evolve, workers must adapt to this new landscape, one in which the jobs of the past may never return.
In an industry that once promised unlimited potential, the reality today is far more challenging—and for many, the question isn’t just *when* the jobs will return, but if they ever will.
Disclaimer: The thoughts and opinions stated in this article are solely those of the author and do not necessarily reflect the views or positions of any entities represented and we recommend referring to more recent and reliable sources for up-to-date information.
