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Why widespread tech layoffs keep happening despite a strong U.S. economy (www.cnbc.com)

submitted 7 months ago by L4s@lemmy.world to c/technology@lemmy.world

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Why widespread tech layoffs keep happening despite a strong U.S. economy::The number of tech sector layoffs in 2024 has been outpacing the number of terminations in 2023.

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[–] SnotFlickerman@lemmy.blahaj.zone 61 points 7 months ago

There’s also the stock market effect. Companies that conducted layoffs haven’t been punished, either by investors or on their bottom lines. In fact, they’ve been rewarded with rising stock prices.

I like how they portray this like it is a fluke and not literally what happens every time. You get rid of a bunch of workers and save money? Line goes up.