Layoffs in Big Tech
Recession or a result of overhiring during Covid-led boom?
Overhiring is not unique to tech - happens in every industry. Banking is notorious for ratcheting headcount. $GS was doing major cuts this week but it does not grab as much headlines as tech
@consumeowntech True. Tech seems to be more in the news.
100% overhiring. Also add $AMZN to that mix went from 800k to 1.5 mio in headcount.
@rihardjarc Indeed, Amazon too! Though a lot of that is warehouse staff from what I read.
@trendlinehq Yeah. I think $AMZN business model is probably one that will benefit the most from advancements of automation on AI. The EBITDA that could be unlocked is huge.
By the looks of it, Microsoft, Meta, and Salesforce probably have even more layoffs in store
@nathanworden wont surprise me.
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