New wave of layoffs in the tech industry: Paypal, Amazon and other giants already cut 25,000 of their staff in January. Microsoft, Meta, Google and UPS also reduced their staff.
What are the reasons? The change in global financial conditions in the post-pandemic seriously affected the margins of these companies and their projections. Everyone is now seeking to be more efficient with their expenses and resources. NE.fyi, which compiles information provided to the stock market and was replicated by large global financial media such as the Bloomberg news agency.