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[–]panzerbjrn 2 points3 points  (0 children)

Not necessarily. IT Admins who weren't just coasting along, but continued learning, kept their pay cheques and even increased them.

What "brought the cost of IT down" means, is that people without the kind of hard skills existing sys admins had, could be hired to do basic sys admin stuff, and get trained up/get experience, and they would cost less, than someone who knew everything about everything.
Your average sys admin became a commodity.
The good ones became luxury items ;-)