> Finding good talent will become harder because engineers with stable jobs will think twice before making a jump in such uncertain times.
I don't think so. If there is a recession, there will be massive layoffs. Though they'll be targeted at the least productive, the most talented will certainly be affected.
Also a weak job market will mean that talented people will accept lower offers.
Further, layoffs rarely are selective. Its not so much about the skill of the people being let go; its about keeping a sustainable subset of the business alive. A talented group may all be let go, and a less capable one preserved, because they are still cost effective.
Lots of companies didn't care about skills and talent in 2008, they laid off engineers making the highest salaries at my company, pretty much top to bottom in order. Except for one who was good friends with the CEO but even he was let go a few rounds later.
I suppose it will popularise remote work in medium and large software companies. I hear that many companies advise their employees to switch to home office, in order to reduce the chance of infection by physical contact. I think we will see more and more employers who will be more accepting of remote work
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[ 3.3 ms ] story [ 23.1 ms ] threadIf Coronavirus is here to stay and as a result World enters a long drawn economic slump, the tech industry is going to be hit hard as well.
Big tech companies will survive, but the disruption at human level may affect smaller companies or upcoming start ups adversely.
Stock markets crash may spook VCs and big investors enough for them to tighten their wallets.
Finding good talent will become harder because engineers with stable jobs will think twice before making a jump in such uncertain times.
I don't think so. If there is a recession, there will be massive layoffs. Though they'll be targeted at the least productive, the most talented will certainly be affected.
Also a weak job market will mean that talented people will accept lower offers.