Source: Bloomberg
Summary
According to SignalFire data, engineers are making up a larger share of new hires in the tech industry, despite the narrative that AI is dominating layoffs. This trend suggests that companies are prioritizing technical talent amidst the current economic uncertainty. The data indicates a shift in the types of roles being cut, with sales and marketing teams being disproportionately affected. The trend is observed across various companies, including tech giants.
Our Reading
The announcement sounds ambitious.
Engineers are now a larger share of new hires, while sales and marketing teams face the brunt of layoffs. AI is still the buzzword, but the numbers tell a different story. It’s a familiar tale of tech companies adjusting to economic realities. “Because what the industry really needed was more engineers and less salespeople.”
Author: Evan Null
