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Why are tech companies cutting staff and why should you care?

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In recent weeks, it seems that announcements of yet another tech company conducting mass layoffs are happening everyday. Today, Amazon was the latest to let some of its employees go.

From Shopify to Netflix and Wealthsimple to Meta, an estimate of 788 tech companies have laid off over 120,000 employees in 2022 alone, according to online aggregator layoffs.fyi.

Why are these layoffs happening, and what does it mean for the economy's future?

In part one of this Global News series, Erica Vella takes a closer look.

For more info, please go to https://globalnews.ca/news/9266161/meta-layoffs-why-tech-companies-are-cutting-staff/

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Category
U.S. & Canada
Tags
global news, tech companies, Amazon layoffs
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