After a year in which technology companies announced massive layoffs, 2023 is looking no different — in fact, the year is starting off worse than 2022.
The problem: Big Tech companies like Amazon, Oracle, Microsoft, Salesforce and Facebook went on a hiring binge during the pandemic when lockdowns sparked a tech buying spree to support remote work and an uptick in e-commerce, and now they face revenue declines.
It’s not only tech giants who are conducting layoffs. Smaller tech firms were also caught up in pandemic-generated hypergrowth and are now suffering the consequences.
