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> Most big tech companies have also halted layoffs and some have even begun to rehire staff they let go only a few months ago. But have they tracked how many o
by epicureanideal 3y ago
> Most big tech companies have also halted layoffs and some have even begun to rehire staff they let go only a few months ago.
But have they tracked how many of the 300,000+ from this year and 150,000+ from last year have found jobs? The article just says "begun to rehire"...
So the layoffs have stopped, but there are still almost half a million former tech company workers who need to be soaked up by the labor market.
And that assumes there isn't an additional downturn in Q4 this year.
Making the situation worse, venture capital investment has dramatically slowed down, so even if some of the laid off workers wanted to start companies, they either a) can't, if they require initial capital, or b) need to slowly, slowly bootstrap the companies, meaning they can't do fast hiring this year or probably next year or the year after.