Why widespread tech layoffs keep happening despite a strong U.S. economy

because it’s healthy for the social dynamics of the corporate organism. it’s like autophagy or apoptosis.

Quote:

  We’re going to continue to see layoffs happen as the future of work has changed, as the future of technology has changed and as investors’ appetite for risk and growth versus profitability has dramatically changed as well.”

End Quote.

TLDR

So it's basically raising cash to speculate in the AI craze at the expense of jobs, and Wall Street rewarding companies for laying off people, which it often does.

What could possibly go wrong?

MAMANA has determined they don’t have to subsidize overemployment as a self-protection scheme.

The reason is simple. Many companies hired a lot during the pandemic to meet the crazy demand. That demand is long gone and coupled with that the promise of AI to get more work done for cheaper is driving companies to conduct layoffs.

I’ve worked for companies they had big layoffs and big acquisitions in the same year.

These generally involved getting rid of seasoned employees with broad experience in the company’s products, while the company purchased some shiny new thing that they don’t understand and will never properly integrate even after 5 years. Meanwhile the CEO enjoyed 8 figure compensation, despite having no past industry experience or clue.

This. Happened. Every. Single. Year.