As tech layoffs continue, experts chime in on what this means for industry, job market

Tech companies continue to lay off employees. Meta let go of 11,000 people earlier this month, about 13 percent of its staff. Snap and Amazon have also announced layoffs in recent months.

All of these tech companies have something in common. They’ve laid off hundreds, if not thousands, of employees in recent months.CEO Mark Zuckerberg explained in a letter to Meta employees on November 9:

“A lot of the layoffs that we’re seeing are really kind of companies correcting for the mistakes they’ve made in the transition out of the pandemic,” said Connel Fullenkamp, an economics professor at Duke University.

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As tech layoffs continue, experts chime in on what this means for industry, job marketTech companies continue to lay off employees. Meta let go of 11,000 people earlier this month, about 13 percent of its staff. Snap and Amazon have also announced layoffs in recent months.
Read more »