Late last week I received word that iRobot had a very sizeable layoff – as much as 33% of their Burlington office — including some very strong engineering talent. Akamai also laid off 100+ a couple weeks ago. There is no doubt the market is being anticipatory of future economics vs. current economics — many companies are still profitable, but are now adjusting expenses for their anticipated revenue/profit curve slowdowns. Compared to past recessions this is definitely a change — considering the “jobless” recovery post 9-11 recession (2002-05 here in Mass.) there is not that much room to cut for many firms.
The trends I am seeing – the amount of noise in the system is increasing – and our clients who are hiring are aiming higher and higher on the expectations side – many could argue that they are unreasonably high! Unfortunately, it’s going to be this time next year before the job market begins to rebound — it’ll “feel” better by late Spring — but, by then, the unemployment rate in Mass will likely be up by 0.8 to a full 1.0 rise.
I still have some very “hot” clients – but their needs are highly particular these days — graphics kernel developers, junior/mid level Ivy league CS grads with Java skills, HPC linux kernel software engineers etc.