If you include Stripe, Klarna, Netflix, Uber, Robinhood, Snap, Lyft, etc. tech layoffs in recent months have topped 100,000 now.
So it's not the end of the world. It really is a pretty minor set back so far.
> Recruiting will be disproportionately affected since we’re planning to hire fewer people next year. We’re also restructuring our business teams more substantially.
https://www.hbs.edu/faculty/Pages/item.aspx?num=56878
so double the numbers for a sense of how many people G actually employs.
In addition, we go from a phase where people new in the job market (students etc) were being hired quickly to no one hiring them. So there are both laid off people and new entrants added to the pool.
I don’t think that’s necessarily true. Hiring students is much cheaper so companies may still hire them whilst letting go of other expensive employees at a cost of quality.