I work for big tech and we've been hiring US graduates fairly continuously. We're also taking students for internships.
We've also had people poached by other companies.
I would say what's going on is similar to what I've seen in the dot com era. We used to joke during the boom that anyone with a pulse who can type can get a job. Then the economy tanked and it was tough. Throughout this people with reputation and industry connections could always find a job.
Now we're in a period of over-supply of new grads. Companies that over hired for years are making adjustments.
Big companies are generally hiring but try to do so in lower cost geographies where they can. There are still a lot of well funded companies in the US that are hiring locally (mostly around AI). There are still jobs posted here on HN every month. Just possibly less. I haven't been tracking the stats...
Just because the stock market is up doesn't mean there is demand for software developers. I predict demand will come up but these cycles take time to play out. During the dot com bust many ended up leaving the industry because they could not find work.
We've also had people poached by other companies.
I would say what's going on is similar to what I've seen in the dot com era. We used to joke during the boom that anyone with a pulse who can type can get a job. Then the economy tanked and it was tough. Throughout this people with reputation and industry connections could always find a job.
Now we're in a period of over-supply of new grads. Companies that over hired for years are making adjustments.
Big companies are generally hiring but try to do so in lower cost geographies where they can. There are still a lot of well funded companies in the US that are hiring locally (mostly around AI). There are still jobs posted here on HN every month. Just possibly less. I haven't been tracking the stats...
Just because the stock market is up doesn't mean there is demand for software developers. I predict demand will come up but these cycles take time to play out. During the dot com bust many ended up leaving the industry because they could not find work.