[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. Last year, tech companies in the US laid off more than 260,000 employees.

The U.S. economy added 353,000 new jobs in January, a huge boost that was about twice what economists expected. PayPal said in a letter to employees that it would lay off an additional 2,500 employees, or about 9 percent of its workforce.