Analysts are still predicting growth in both mid-market and enterprise companies who are still increasing their IT spend, (ESG Global report). Despite global macro-economic conditions, technology investments are expected to continue, with companies evaluating applications and workloads with increased scrutiny and adopting a hybrid model of both public and private cloud to optimise budgets but still move forward with digital projects. Some companies will find themselves short-staffed as the skills gap remains for public cloud and cloud-native technical and sales talent.
More importantly, retaining good talent makes a business stand out and these see-saw effects is bad planning or over-compensating or both. Companies who invest in their people will reap rewards as nurturing your staff makes better economic sense in the long-term as recruiting, training and on-boarding new staff costs money. Mass redundancies is a knee jerk reaction in my opinion, and bad for business, lowering the reputation of those businesses.