The confusing job market: Tech and finance brace for the worst, retail is mixed, travel can’t hire fast enough

It wasn’t long ago that Amazon, Shopify and Peloton doubled their workforces to manage through the pandemic surge, while Morgan Stanley staffed up to handle a record level of IPOs, and mortgage lenders added headcount as rock-bottom rates led to a refinancing boom.

On the flipside, Delta Air Lines, Hilton Worldwide and legions of restaurants slashed headcount because of lockdowns that rolled through much of the country and other parts of the world.

Now, they’re scrambling to reverse course.

Companies that hired like crazy in 2020 and 2021 to meet customer demand are being forced to make sweeping cuts or...