[avereveard]

Here's my hunch: a lot of top performers valued security during Covid and didn't move for a couple years. Late last year mobility resumed, and company went into hiring frenzy because the market was filled with top performers looking around.

At the other side tech companies enjoyed lot of growth during Covid as the world digitalized, and are now, well not yet in a crunch, but flatlining toward where their natural growth would have been if Covid didn't happen.

Pair lack of growth with over hiring and you get a readjustment.

I don't see reason to call this a jobpocalypse yet.

[seaman1921]

Agreed. Cutting out the under-performers while still increasing the overall headcount is perfect for the companies, I wish Alphabet did that too

[headsoup]

High inflation and higher interest rates are probably going to lower demand somewhat too, I don't think the layoffs have peaked just yet either.

[Existenceblinks]

They created unnecessary problem and fixed it. I would call this just.. a correction.