With Microsoft announcing redundancies of 10,000 jobs this week, it’s no surprise that there are people questioning whether the glut of jobs in the tech sector are starting to dry up.
It’s easy to understand that with the 4th largest tech company in the world laying off 5% of its work force, maybe the Golden age of candidate choice is over.
However that doesn’t seem to be the case, with a soaring number of diverse companies appearing in everything from AI, to Drone tech, Medical Research to EV creators, its no longer simply about measuring a field by the blanket term of IT jobs at one of the traditional big firms.
These companies now need economies of scale to be efficient, but the industry has become so diverse it’s hard to recognise the entire industry as being one family unit, its spread into a whole web of industries that share a lot of core skills within technology.
It’s also easy to forget that the IT sector as a whole, infiltrates every other modern industry, theres analysts within every sector. Engineers behind every development, and a computer in every office.
This is why the IT sector now makes up around 7% of the UK Employment total, over 2 million people. And whilst the occasional major company will have a global reshuffle, this doesn’t affect the fact that when it comes to developers, analysts, software engineers, data architects and cloud engineers, we are in desperate need of more. There’s a huge shortage and it is the perfect time to migrate to a new pathway.
In telecoms for instance, it’s only going to become increasingly important as 5 and 6G technology begin to infiltrate every aspect of our lives, thus will the industry responsible for that service become ever more important.
The investments being thrown around now by telecoms firms are astronomical, Iliad has borrowed €300 million to densify Fibre in France, and BT has announced a price hike of 14.4% to help offset the costs of its planned investments. Vodafone, that perpetually troubled behemoth is being told it needs to increase it’s investment in order to stay viable.
We are currently entering a new gold rush of discovery and connectivity, and whilst it might be costly for a consumer, it’s certainly lucrative for any prospectors who want to join the smaller arms of the IT sector in striking out into the unknown, because the only certainty in this uncertain time is, there’s a lot of change coming, and a lot of money to be made in doing so.
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