US mass tech layoffs

There are massive layoffs happening in the tech sector in the US. Google, Microsoft, Amazon and other tech companies have laid off more than 200,000 employees. The reasons given: uncertain economic conditions and inflation.

Why is it that the tech sector is seeing layoffs in these large numbers, even ones still generating big profits, laying off so many people and not other industries?

Some believe this is restricted just to the tech sector. Others believe it may spread to other sectors of the US economy. Yet the number of layoffs, in the hundreds of thousands, is pretty shocking.

Why such large number of layoffs, and the health of the US economy as a whole, is the topic for this edition of Economic Divide.

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