Crisis in IT!

August 7, 2024

In 2020, the IT industry experienced a period of dynamic growth. The COVID-19 pandemic caused a sudden increase in demand for technological solutions, remote work, and digital services. Companies worldwide had to quickly adapt to the new reality, leading to a boom in the IT sector. IT specialists were in high demand, and salaries were rising.

Currently, in 2024, we increasingly hear about a crisis in the IT industry. Many people wonder whether this is truly the case or if we are experiencing a natural slowdown after a period of extraordinary growth.

After a period of intense hiring in 2020-2021, we are now observing a stabilization in the IT job market. Some large tech companies have announced layoffs, which has raised concerns about the future of the industry.

Many people compare the current situation to the peak period of the pandemic, rather than to the times before it. It is natural that after a period of rapid growth, stabilization follows, which can be mistakenly perceived as a crisis.

Many people compare the current situation to the peak period of the pandemic rather than to the times before it. It is natural that after a period of rapid growth, stabilization follows, which can be mistakenly perceived as a crisis.

However, this does not signify a complete collapse but rather a return to a more sustainable growth rate. What we are witnessing now is more of a natural stabilization and adaptation to new market conditions.