Over just the past week, over 20,000 workers have been laid off by Silicon Valley (Tech) companies. Companies such as Twitter, Meta (Facebook’s parent company), Stripe, Lyft, and a lot of smaller companies all laid off double-digit percentages of their workers. Google and Amazon haven’t laid off as many, but they have slowed down their hiring. Lise Buyer, a tech analyst, said “It does feel a little like 2000,” “Hire engineers, hire engineers, hire engineers, and then suddenly companies get a cold bucket of water in their face.” She is referring to the dot-com crash of the 2000’s. Over the past decade, tech companies have been hiring a lot, but that era may be coming to an end.
Source: https://www.washingtonpost.com/technology/2022/11/12/tech-facebook-twitter-layoffs-dotcom/
