[ad_1]
Twitter employees are preparing for job cuts under Elon Musk’s leadership. Intel (INTC) is cutting headcount as part of a multi-billion dollar cost-cutting plan. SNAP has cut his 20% of its workforce and may cut more.
At the same time, tech giants such as Microsoft (MSFT) and Amazon (AMZN) are now experiencing slower growth, but still have more employees than they did a year ago. And software development remains an in-demand skill, according to analysts. This comes ahead of his October jobs report, which economists expect to show the US economy added 200,000 jobs to him last month.
“I would like to say that the scarcest commodity on earth is not oil or lithium or cobalt, it is actually software programmers.” Robert Smith, Founder, Chairman and CEO of Vista Equity Partners Mr. Vista Equity Partners is an enterprise software focused private equity firm with $94 billion in assets under management.
“There are 7.5 billion people on the planet,” he added.
This data reflects a strong demand for software developers. US job openings rose unexpectedly in September. Although the Department of Labor does not categorize software developers in its monthly report, they do fall into the Professional Services and Business Services categories. These openings increased him 4.5% over the previous year.
Job openings for software programmers have increased 57% since February 2020, according to Indeed.com’s Hiring Lab. This represents a slowdown from his peak profit of 131% in March 2022 compared to February 2020, suggesting the company may be cutting back.
Still, the need for programmers appears to be a long-term trend, even with cost cutting amid current economic concerns. An IDC analyst said the shortage is not limited to the United States. The global shortage of full-time developers is projected to grow from 1.4 million last year to 4 million by 2025, according to a report by One IDC.
“Many companies/recruiters across Europe are looking to other talent pools such as South America and Asia to play local roles,” says Leonardo Bulgarelli Freitas, Research Manager, IDC UK. is writing by e-mail. “This has happened before, but it looks like we’re seeing even more hiring from off-continent.”
He pointed out that a recent IDC study ranked software developers among the top five most sought-after roles in information technology.
“These are the people who really deliver and build these productivity tools that must continue to enable and digitize not just businesses, but entire nations, education and cybersecurity economies,” says Vista. Equity’s Smith said. “These are the areas where we are really seeing an increase in demand.”
Not only is Smith looking to help fill the programmer gap, but he’s also tackling the shortage of black programmers and digital workers. After dramatically paying off Morehouse College alumni student loans in 2019, the billionaire founded the Student Freedom Initiative, a nonprofit financing vehicle for his STEM students at institutions that serve minorities. did.
“To participate in the digital revolution, we need to make our citizens more active,” he said.
Julie Hyman is a co-anchor Yahoo Finance Live, weekdays 9am-11am ETFollow her on Twitter @juleshymanWhen read her other story.
Read the latest financial and business news from Yahoo Finance
Follow Yahoo Finance twitter, Instagram, Youtube, Facebook, flip boardWhen LinkedIn
[ad_2]
Source link
