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Tech layoffs reveal the unintended consequences of mass job cuts
For decades, Daelynn Moyer easily secured job offers in the tech industry, working her way up from a computer maintenance technician to a manager leading teams of engineers making software. A college dropout, she was confident tech work was her ticket to job security and she would stay in the industry until she retired. Now, Moyer, 55, isn’t so sure her future remains in tech. Since being laid off from Indeed last year, Moyer has applied to more than 140 jobs but received no offers. She and her
In a companywide town hall meeting late last month, Meta CEO Mark Zuckerberg defended the cuts, arguing that the system would give remaining employees better colleagues, according to a recording of the event obtained by The Washington Post. “There has been just this erosion of job security and trust, particularly with the large companies that announced widespread layoffs along with growing profit margins or increased stock prices,” said Patrick McAdams, CEO of the tech recruiting firm Andiamo. Data released Friday by the U.S. Labor Department showed the professional business services and information sectors - which include tech and other office jobs - shrinking by around 9,000 positions in January, as higher interest rates continue to discourage employers from hiring
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