technologyeconomy2.9 min read
"Tech Giants' Stealthy Layoffs: Unveiling the Economics of Job Cuts"
1 year ago•Source: Yahoo Finance
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6.49 min•1 year ago
"Tech Companies' Layoffs Amid Booming U.S. Economy"
Despite a booming U.S. economy and a strong job market in other industries, tech companies have laid off hundreds of thousands of workers in the past two years, causing despondency and confusion among the tech workforce. Executives attribute the layoffs to over-hiring during the pandemic and pressure from investors to improve profitability. The continued cuts come as companies struggle with economic concerns, inflation, and a shift towards focusing on increasing profits. As a result, tech jobs have become less secure and attractive, leading workers to consider alternative job opportunities and pursue different career paths.
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