this post was submitted on 04 Feb 2024
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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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[–] VubDapple@lemmy.world 72 points 9 months ago (2 children)

Laying people off is a way to juice the stock price in the short term. So perhaps the "economy is booming" because of the layoffs?

[–] dustyData@lemmy.world 7 points 9 months ago* (last edited 9 months ago)

Absolutely, layoffs are exactly why some tech companies can boast of record profits.

[–] scarabic@lemmy.world 2 points 9 months ago

The stock market isn’t the economy.