>And Meta, Amazon, Salesforce etc are only shedding excess pandemic hires. If you look at a graph of hires over a decade, the pandemic shows a huge blip up, and

>And Meta, Amazon, Salesforce etc are only shedding excess pandemic hires. If you look at a graph of hires over a decade, the pandemic shows a huge blip up, and these layoffs correct that. I think you're arguing against yourself. Why do you think there was a huge blip up during the pandemic? Because their revenue was increasing at a faster rate, so they hired to sustain the increase in revenue and they believed the growth rate will continue. Why was revenue increasing at a faster rate? Two reasons. First, zero interest rates meant that people had more money to spend than before. Second, staying at home meant that people didn't have much else to spend their money on except tech/internet.