Corporations are loving the tech layoffs as devs scramble and compete amongst each other for lower wages. Companies are taking advantage of this and offering lower wages or equal wage to a year ago.<p>https://www.theinformation.com/articles/pay-falls-for-many-tech-workers-as-the-downturn-hits-home<p>https://www.businessinsider.com/tech-workers-willing-pay-decrease-high-salaries-remote-layoffs-survey-2023-6
This is inevitable , happens with all domains.
For the past 20 years there has been shortage of developers but now after various
building tools, almost everyone running to tech , chat GPT coming into play...there'll be soon excessive developers + they will be more efficient , thus demand supply gap would decrease and wages would ultimately go down.