From Great Resignation to Forced Resignation: Tech companies are shifting to layoffs after a huge ramp up in hiring
The Great Resignation is pivoting to a Forced Resignation.
Thousands of layoffs in the tech sector, compounded by hiring freezes and a slowdown in hiring, highlight the abrupt shift in fortunes over the past several months as a result of rampant inflation, fear of stagflation and recession, supply-chain interruptions, the war in Ukraine, an ailing stock market and other red-alert economic factors.
‘The market cap aggregate of about 300 publicly traded tech companies with operations in San Francisco and the valley is at its lowest now, $9.98 trillion, since 2013 after peaking at nearly $15 trillion in November 2021.’
Follow & share @TransAmericanFriendship
