You see other industries, they're laying people off sure, but we're not talking 5%+. They're doing the above, being more precise about their spending. Like Blackrock, huge losses, and still "only" let go of 500/16000, ~3%.
You will not see tech companies balloon to the same number of employees ever again, if anything they will continue to shrink astronomically. No matter what happens to the economy, as these decisions are not because of the recession or the pandemic, both of those reasons are amplifiers not sources.
> You will not see tech companies balloon to the same number of employees ever again
I remember people sating this in 1999.
> both of those reasons are amplifiers
Nope, they are canaries in the coal mine.
https://news.ycombinator.com/item?id=34725407
Economic indicators may look solid, but why? I assert it is because the Fed rate is STILL below the inflation rate. This is why the housing market has not totally seized up yet. The next inflation numbers will be high and then you will see people scrambling again.
Nowhere was that stated. Hopefully you understand that both we are in a recession, and you are being misled as to why these layoffs are happening are both true. As stated, if it was purely because of the recession, the likes of Blackrock would also be hitting 5%+ layoff numbers.
No, we are not in a recession
Now, Yahoo is letting off all these people. That does not happen during recession. If you follow what the Fed says about recessions, you’ll be left behind.
No, they are doing this because we are in a recession and businesses are always the first to know and labor is the last to know.