I know people will say AI, but I don't think it's that. The whole "everyone should learn to code" bullshit of the last 15 years or so has created a lot of developers that frankly aren't very good, and then you mix in the massive overhiring of the pandemic, and what you're seeing is a hard correction. CEOs love to use "productivity improvements from AI" as a smokescreen and investor catnip but the research shows it's…
Blaming the employees is BS. A pretty large % of the people losing their jobs are also high performing excellent people. I feel like anyone who worked at one of these companies doing lay offs knows this.
That being said, I don't think it's unfair to point out that creating a massive influx of new developers without jobs that provided good mentorship (most jobs are awful at mentoring junior developers) is going to have huge consequences that we're now dealing with. I think the "learn to code" thing was a massive mistake. Encourage the people that want to, sure, but don't try to pull people in that are only marginally interested in a paycheck.