From Feast to Famine: Why Tech Is Preparing For Hiring Freezes And Layoffs
With a historically tight labor market, why are some tech companies laying people off?With Inflation not slowing down and the economy showing signs of a possible recession, companies are preparing for the worst. Layoffs are sweeping across American businesses, specifically in growth companies in tech in 2022.Shopify, Netflix, Peloton, Tiktok, Robinhood, and Coinbase are only some of the companies that are starting to lay off their employees.But with our most recent episode, we just learned that there was still A LOT of tightness in the labor market - citing labor shortages - so why would these companies lay anyone off?Well, in this episode of Things Have Changed Podcast, we’re going to explore why tech companies are feeling the burn.Important Links:Millions of Americans Regret the Great ResignationBig Tech Won the PandemicTech’s Red-Hot Hiring Spree Shows Signs of CoolingIs Big Techs Red Hot Jobs Market about to Cool?Bird is laying off 23% of staffNetflix lays off 300 more people — almost 3% of its staffUS Layoffs, Hiring Freezes Are Tip of Labor Market SlowdownJPMorgan Initiates Mass Layoffs and Reorganizing, 1,000 Employees Possibly AffectedRivian Plans Hundreds of Job Cuts Following Surge in StaffingAmazon has 100,000 less workersAmazon increased layoffsNasdaq historic Wipeout - a Tech StorySupport the showThings Have Changed