this post was submitted on 04 Feb 2024
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The U.S. economy is booming. So why are tech companies laying off workers? (www.washingtonpost.com)
submitted 9 months ago by [email protected] to c/[email protected]
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The U.S. economy is booming. So why are tech companies laying off workers?::undefined

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[โ€“] [email protected] 38 points 9 months ago (1 children)

Elon broke the seal on firing huge swaths of a tech workforce to make your numbers look better.

Don't give him too much credit, it's hardly the first time the tech sector has gone through this cycle. Elon had to do it because he massively overpaid for Twitter. The fact that his layoffs came at the front of this wave is probably just coincidence.

[โ€“] [email protected] 4 points 9 months ago

I wouldn't say coincidence. I'd say the others were wanting to do the same, but held back because of bad press. After Elon did it, they had an excuse that took the heat off.