I do know in the Scottish IT sector and I presume, as there are a lot of banks headquartered up here that a lot of the development layoffs are due to outsourcing which is a bit kak. That and the new penchant within the industry to purchase off the shelf software and configure rather than develop their own which almost used to be the standard approach. I think this has been enabled by the adoption of cloud architecture and services.
Then chatgpt comes along and just exacerbates the whole shebang. I think it's a must have in this increasingly technical world but agree that fewer will become real coders
The thought of working in lower level IT and co-creating with chat gpt sounds awful, I think it's a useful skill so you know what's behind the systems you use, even just a little bit of knowledge, but learning enough to be able to create stuff to deadlines, that's gonna get grimmer and grimmer!