In a labor market where Google, Amazon, Facebook, and Microsoft haven't recently released collectively dozens of thousands of well-qualified workers into the pool, I suspect this situation might have ended differently. It's "buyer's market" out there now and employers can afford to be extra picky. This dynamic may not have applied to the poster's case since those other available resources would have been laid off as well. But the core point stands.
To build on this with concrete numbers, warn tracker used public data to break out the number of affected employees by more specific data.
You can see that from Google there are 300 entry level SWEs, 500 mid level, and 200 senior level. The whole industry had 12,000 Google employees, but you’re only competing with a few hundred SWEs of your experience level (using payroll level as a proxy for experience).
You can imagine this is repeated for various companies, and could still be thousands of new job seekers, but it does limit the perception of a “flood” of engineers.
