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The number of IT professionals or jobs during 2000 -2001 is very less compared to now.
Indeed, but there are other dynamics at play - the war, inflation, and some countries may not have gas supply in winter etc not sure how this could turn out
Although in terms of headcount, this layoff season seems bigger. However in reality this is completely different from dot com burst. That was an era when the technology market grew 400% from 1995 to 2000 with the start of the internet and .com domains. After its peak, it went down by 78% in just 2 years.
One of the main reasons for the huge market decline at that time was the hardware technology. Intel was the only leader in hardware technology which too was facing an existential crisis due to their designs being copied by Japanese firms.
The current scenario of layoffs is due to multiple reasons like war, inflation, post-cvid impact etc.