I'm a former Microsoft VP of HR. Here are the real reasons why layoffs are happening and how much longer they'll last.
. Alas, when things opened back up, we also returned to the brick and mortar stores. Amazon had over-hired and has needed to retreat.
To their credit, many of these companies have shown loyalty to those who helped lead them in the creation of some amazing products. And they have chosen to stick with experimental projects long past the time when more traditional companies would have pulled the plug. But they didn't want to be seen by Wall Street as companies at risk. They didn't want to be the only one laying people off while other companies were still hiring or at least staying stable. The optics would have sent their stocks into a nosedive.
That said, there is no reason to see the layoffs as a harbinger of doom and gloom for the tech world. There are almost too many rays of hope to count.
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