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Mark Zuckerberg explains why so many tech companies are doing layoffs right now (www.businessinsider.com)

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

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Mark Zuckerberg explains why so many tech companies are doing layoffs right now::Meta's CEO said tech execs realized doing tough layoffs didn't end their companies — and there can be benefits to being leaner.

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[–] GlitterInfection@lemmy.world 15 points 9 months ago* (last edited 9 months ago)

I have an even more cynical take, in that the layoffs are the one lever that they have to try and get the interest rates to go back down so they can get free money again.

Flood the economy with people who can't afford stuff to get consumer spending down and then rates can lower again.