Tech’s all in on AI, and the shake-up is real. 🫨
Funding highs and early signs of hiring recovery meet widespread layoffs, revealing the market’s appetite—and its volatility.
📍 WHERE WE’RE AT:
• Anecdotally, we’ve seen a lift in client engagement
• Figures show national uptick in ICT hiring; software dev ads hit a 3‑year high
• Overall job ads, vacancies and advertised salaries lift nationally; Vic hiring still subdued
• Roles in digital transformation, cloud, and cyber remain hot
• Key tech goods spared from 10% US import tariffs
• AI push a core factor in layoffs at Intel Corporation, Amazon, Google, Meta and more
• With 30% of its code written by AI, Microsoft trims 2K global roles
• Tech giants, including NVIDIA and Apple, rebound 28% from April lows
• Telstra begins more AI-triggered job cuts as it pivots operations
• Xero’s A$3.9B Melio deal fuels scrutiny of CEO and US growth strategy
• Canva, Atlassian employees turn to unions over AI job fears
• RBA held rates steady, despite climbing unemployment level
• Skilled visa reform: 10 tech/cyber roles added; residency and salary rules updated
• Slight VC funding lift—mostly to mature startups, with early-stage funding dominated by AI
• Near record low for female founders: just 0.5% of VC funding last quarter
• IPO speculation builds for Airwallex and Linktree after major funding rounds
🔭 WHAT’S AHEAD:
• Hiring outlook: continued steady recovery, Vic rebound expected later
• Advertised tech salaries expected to grow 3–4% YoY
• Possible RBA rate cut ahead if unemployment trends hold
• July 1 visa reforms may help ease talent crunch
• IPO watchlist: Canva, Airwallex, and Linktree
