Yes, but its great to be a generalist in the industry with 5+ years commercial experience. So many of the small companies have been eliminated that the talent pool has pretty much dried up for the big telcos!
Additionally, with the strict focus on 'headcount', departments are competing against eachother to attract and retain the most experienced talent, even though they would often be better off hiring more junior workers.
I've never been out of work and there are always other roles to look forward to if I become unhappy or want a new challenge.