Are Tech Companies About to Have Mass Layoff
There were though times in every down turn when it came to the economy. Yet one sector that thrived for over a decade is the tech industry. Very specifically FANG and MSFT type companies have been thriving.
Yet the current down turn may mean the end of FANG boom.
Microsoft recently posted tech companies that have recently shrink employment.
Tesla too is clarifying they are laying off 3.5% of their workforce.
Companies that are yet to layoff employees may slow on hiring first such as that of Amazon.
All signs are not good for FANG and what will this do to the overall economy? FANG employees tend to be compensated very well and for over the past decade the jobs have been diamond in the rough. Will this all change now with the current down turn?
None of what I write is financial advice. It is for entertainment purposes only. Thanks for reading!
LeoFinance = Financial Blog
LeoDex = Hive trading exchange for Secondary Tokens, Low 0.25% fees for deposits and withdraws.
HiveStats = Hive stats per user
LeoPedia = Informative content related to anything about Crypto and how to make financial gains in crypto!
CubDefi = LEO Finance's Defi with CUB Token
I think they will cut down costs because they don't know how long a recession will last. However, I don't think they will lay off as many people because the demand for technology should still be there.
Posted Using LeoFinance Beta