MarketWatch said the layoffs are part of a strategy by tech firms to maintain viability through 2023 and beyond. The cuts are coming now, and are impacting many companies in Western Washington. We’ve already heard of cuts at Microsoft, Meta — the parent company of Facebook — and Twitter. Seattle’s status as a tech hub ensures the region will feel the impact — which is already being felt — as tech companies deal with the economic pressures that other companies are facing.
Meta announced that it would lay off 11,000 of its workers, which would make the cuts the largest in the company’s history. The company is laying off more than 700 employees in the Puget Sound region. Muddu Sudhakar is the CEO of Aisera, an artificial intelligence firm with a focus on information technology. He said the cuts could worsen: “I think we’re just scratching the surface, ‘23 will be worse from what I am hearing from customers and CIOs .”
Twitter’s layoffs are due more to Elon Musk’s takeover and revamp of the social media company — some industry analysts have questioned his move to lay off his employees. The impact here in Washington was tangible — Washington state officials said more than 200 local employees were included in the Twitter layoffs.
didn't think bloated salaries would last anyways
Tech jobs are just 2% of the workforce. Important to look further before declaring “recession”.