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Tech and biotech layoffs jolt Silicon Valley, Disney and Hulu cuts hit L.A. area
(www.mercurynews.com)
this post was submitted on 16 Jun 2023
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United States | News & Politics
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Can someone provide more context to these layoffs? I expect there are not single or simple explanations. Given that, my impression is big tech expanded especially during the COVID era and they are contracting in conjunction with the banking crisis and demand for high stock value all at the cost of workers.
Which I see as not great, you would think a company wouldn't be short-sighted enough to pull on a major workforce influx, with salaries and all, when they didn't know what the future held. Maybe I've been working in to many backwoods companies though, not a lot of self starters around my area