[HIGHLIGHTS] The US economy is booming – so why are tech companies laying off employees?

The US economy is booming – so why are tech companies laying off employees?. “This is the way the American capitalist system works,” they say.

The U.S. economy added 353,000 new jobs in January, a huge boost that was about twice what economists expected. Google, Amazon, Microsoft, Discord, Salesforce and eBay made significant cuts in January. On Tuesday, PayPal said in a letter to employees that it would lay off an additional 2,500 employees, or about 9 percent of its workforce.