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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 L4s@lemmy.world to c/technology@lemmy.world

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The U.S. economy is booming. So why are tech companies laying off workers?::undefined

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[–] KingThrillgore@lemmy.ml 25 points 9 months ago

            
              Companies value short term gains not long term projects
COVID overhiring
Salaries are too high for peons, they are trying to readjust
Market is spooked due to the interest rates and SVB collapse
New product offerings are not exciting consumers
The belief AI developments can offer performance improvments
The belief AI developments can weather regulatory scrutiny