In 2024, the technology sector saw over 150,000 layoffs, although this was a slower pace compared to the significant cuts experienced in 2022 and 2023.

Moreover, nontechnical skills such as creative thinking and adaptability are becoming essential alongside technical expertise when hiring engineers.

As of January 2025, an additional 5,000 tech layoffs were announced, with more than half of these reductions attributed to Meta's workforce cuts.

Notably, Intel executed the largest layoff in the sector, cutting 15,000 jobs, which accounted for 15% of its workforce in August 2024.

Despite these layoffs, many companies, including Amazon and Dell, are requiring employees to return to the office full-time, limiting remote work opportunities.

Interestingly, the U.S. Bureau of Labor Statistics anticipates a 9% growth in electrical engineering employment from 2023 to 2033, which is higher than the average for all occupations.

George Santos, a recruiter, highlights that the job market for electrical engineers remains robust, particularly due to the rising demand for embedded and firmware engineers driven by advancements in smart manufacturing.

The demand for electrical engineers in semiconductor manufacturing is projected to grow by 15% from 2023 to 2033, with a median annual wage nearing $145,000.

According to the World Economic Forum's Future of Jobs Report 2025, technology-related roles, especially in big data, AI, and software development, are among the fastest-growing globally.

Skills in AI, big data, networks, and cybersecurity are increasingly vital across various sectors, particularly in telecommunications and automotive industries.

In response to the changing landscape, employers are planning to upskill and reskill their workforces, with 96% of telecommunications companies aiming to enhance employee skills.

Despite the challenges, the median income for U.S. engineers and tech professionals rose to $174,161 in 2023, according to IEEE-USA's survey.