Jim Cramer says more tech layoffs are coming after Salesforce cut 10% of its headcount
last year as persistent inflation, the Federal Reserve's interest rate hikes and normalizing demand from the height of the pandemic continue to dog the formerly burgeoning industry.
Cramer said that while the industry is likely to see more cuts this year, investors should refrain from becoming overly optimistic about how tech companies and their stocks will fare once more employees are laid off. "I'm saying that this decline won't be as bad as the 2000 and 2001 [recession]. It won't be that. Nor am I saying that tech stocks can rally endlessly on cost cuts," he said.Jim Cramer's Guide to Investing
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