Due to tech giants' overhiring and overpaying policies, a lot of people re-qualified in recent years. Now those Juniors can't find their easy-to-get-dream-jobs f or months and situation is getting worse for Seniors, too, as both bigger and smaller (and also both public and private) companies are doing hiring freezes, layoffs, invoke no-raises policies and all sorts of cost cuts.

Sure - all those people could try to go back to what they were doing earlier but there are layoffs and freezes in not only tech and related industries.

Those people are being punished for doing what the giants-led market demanded.