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Tech layoffs are becoming the new normal | Salaries have also stagnated, layoffs are second only to the dot-com bubble
IT jobs are no longer the safe bet they once were. Since the start of the year, 209 tech companies have laid off 50,312 employees, according to...
The big picture: Job cuts in the tech industry last year were attributed to the need to economize, driven by inflation and a hiring spree during the pandemic. Alphabet, Amazon, Cisco, eBay, Meta, Microsoft, SAP, and Unity Software have all downsized their staff in recent months and in sizable numbers. Layoffs bolster shares "so these companies see no reason to stop," said Jeff Shulman, a professor at the University of Washington's Foster School of Business.
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