Dear MEL Topic Readers,
What is behind the big tech companies' job cuts?
Until recently, the US online tech industry had been in top gear to hire and retain talented employees with lucrative pay, luring perks, and flexible workstyle. But as inflation put the economy into trouble, consumers cut their spending, and therefore, advertisers slashed their online ad budgets. Then those tech giants which only had been looking at a bright future suddenly realized that it wasn’t going to be the case. As their growth expectations faded and quarter earnings fell, they realized that they had hired and retained more employees than they could afford. Because of their investors’ pressure and intention, those tech giants are in a race to slash their spending and cut jobs, like Twitter, Amazon, and Meta only to name a few. This will hit hard for those who were recently hired by those tech firms as they also had expected a bright future and spent and loaned for housing and cars. Do those corporate executives only know to press the accelerator or brake so hard to drive a car?
Read the article and learn about the recent job cuts in the US tech industry.
https://www.bbc.com/news/technology-63635821
What is behind the big tech companies' job cuts?
Until recently, the US online tech industry had been in top gear to hire and retain talented employees with lucrative pay, luring perks, and flexible workstyle. But as inflation put the economy into trouble, consumers cut their spending, and therefore, advertisers slashed their online ad budgets. Then those tech giants which only had been looking at a bright future suddenly realized that it wasn’t going to be the case. As their growth expectations faded and quarter earnings fell, they realized that they had hired and retained more employees than they could afford. Because of their investors’ pressure and intention, those tech giants are in a race to slash their spending and cut jobs, like Twitter, Amazon, and Meta only to name a few. This will hit hard for those who were recently hired by those tech firms as they also had expected a bright future and spent and loaned for housing and cars. Do those corporate executives only know to press the accelerator or brake so hard to drive a car?
Read the article and learn about the recent job cuts in the US tech industry.
https://www.bbc.com/news/technology-63635821
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