What do tech layoffs tell us about the economy?
Sweeping layoffs and hiring freezes have hit the tech industry hard this year. According to Layoffs.fyi, over 50,000 jobs were lost in November alone.
The pandemic was good for the tech industry. But as life offline comes back, companies are struggling to retain the employees they hired during the pandemic.
Additionally, changes to how digital ads are tracked and distributed have led to profit losses for companies like Meta, which laid off 11,000 employees, about 13 percent of its staff, last month.
Outside of tech, layoffs are at a historic low. But what do the tech industry’s economic wobbles mean for the economy as a whole?
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