Sun. Feb 5th, 2023

Tech leaders say indicators of a slowing financial system and fast hiring throughout the pandemic are accountable for the layoffs.

CHARLOTTE, N.C. — Why are main firms shedding hundreds of their workers?

Let’s join the dots.

To this point this month, we have seen not less than 48,000 job cuts introduced by firms like Microsoft, Amazon, Meta and others.

These cuts come as employment within the US stays sturdy with over 200,000 jobs added in December. Tech leaders say indicators of a slowing financial system and fast hiring throughout the pandemic are accountable for the layoffs.

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The tech sector grew exceptionally quick as of us started working from residence and even after the cuts, many firms are nonetheless extra in depth than they had been earlier than the pandemic began.

Whereas Microsoft is reducing 10,000 jobs right here within the Carolinas, they’re nonetheless hiring with job positions open in North Carolina’s analysis triangle.

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