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Nearly 25,000 tech workers were laid off in the first weeks of 2024. Why is that? (www.npr.org)

submitted 9 months ago by L4s@lemmy.world to c/technology@lemmy.world

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Nearly 25,000 tech workers were laid off in the first weeks of 2024. Why is that?::undefined

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[–] somethingsnappy@lemmy.world 14 points 9 months ago (1 children)

Q1 profits. It happens to some extent every year between Thanksgiving and early February. It helps the books for Q1. 1rst earnings calls of the year mean more than they should.

[–] WhyYesZoidberg@lemmy.world 4 points 9 months ago

And when everyone is doing it it’s much easier to do..

Rinse & repeat