Tech Layoffs Top 50,000 in 2023, Bringing Career Uncertainty Despite Wall Street Approval

Major tech companies like Alphabet, Amazon, Meta, and Microsoft have laid off over 50,000 employees so far in 2023, continuing cuts from 2022
Wall Street views the cost-cutting measures positively, but employees face uncertainty and anxiety about their career prospects
The tech job market is intensely competitive with stringent requirements and lower salaries compared to previous roles
Tech salaries have stagnated over the past 2 years, furthering financial concerns and challenges finding suitable new roles
Even senior developers and highly qualified H1B visa holders face difficulties maintaining previous compensation levels and finding appropriate new positions