Sunday, January 28, 2024

https://ift.tt/TiWV3pf 25,000 tech workers were laid in the first weeks of 2024. What's going on?

People walk past a Microsoft office in New York in 2016. Big Tech companies, like Google and Microsoft, and dozens of smaller startups have collectively shed more than 20,000 workers so far this year.

Silicon Valley executives have said the cuts are a result of pandemic overhiring and still-historically-high inflation. But others say something else may be behind the mass layoffs.

(Image credit: Swayne B. Hall/AP)

Nearly 25,000 tech workers were laid in the first weeks of 2024. What's going on? People walk past a Microsoft office in New York in 2016. Big Tech companies, like Google and Microsoft, and dozens of smaller startups have collectively shed more than 20,000 workers so far this year.

Silicon Valley executives have said the cuts are a result of pandemic overhiring and still-historically-high inflation. But others say something else may be behind the mass layoffs.

(Image credit: Swayne B. Hall/AP)



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