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Tech layoffs are a warning sign of what’s ahead

Posted on AllSides January 23rd, 2023
From The Left

Technology companies are on a firing spree: Meta, Twitter, Redfin, Zillow, Lyft, Stripe and GoFundMe have all announced massive layoffs in recent days. Amazon (whose founder, Jeff Bezos, owns The Post) is expected to ax about 10,000 corporate staff soon. What’s really going on here is a big reset for tech and the broader economy. After nearly two decades of rapid growth, skyrocketing stock prices and domination of so many aspects of people’s lives, tech is facing a business reckoning.

It’s not particularly surprising how this happened. Ultralow interest rates...

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