With stuff hitting the fan the way it has, you would think there is a need for more engineers and other white collar specialists, not fewer.
Some of the jobs have migrated overseas, but not all of them. In earlier downturns, companies would terminate employees but bring them back in as consultants whom they paid a fat per diem to do their old jobs.
That tactic reduced the headcount and lowered the overhead while enabling the work to get done. But this time, more contract employees and temporary workers are being let go, too.
I'd hate to guess what types of things aren't getting done.