Technology

59358 readers

3846 users here now

This is a most excellent place for technology news and articles.

Our Rules

Follow the lemmy.world rules.
Only tech related content.
Be excellent to each another!
Mod approved content bots can post up to 10 articles per day.
Threads asking for personal tech support may be deleted.
Politics threads may be removed.
No memes allowed as posts, OK to post as comments.
Only approved bots from the list below, to ask if your bot can be added please contact us.
Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago

MODERATORS

Mark Zuckerberg explains why so many tech companies are doing layoffs right now (www.businessinsider.com)

submitted 9 months ago by L4s@lemmy.world to c/technology@lemmy.world

34 comments fedilink hide all child comments

Mark Zuckerberg explains why so many tech companies are doing layoffs right now::Meta's CEO said tech execs realized doing tough layoffs didn't end their companies — and there can be benefits to being leaner.

you are viewing a single comment's thread
view the rest of the comments

[–] RedditWanderer@lemmy.world 35 points 9 months ago* (last edited 9 months ago) (1 children)

These companies took the benefits and cheap loans to make record profits during the pandemic, and now that the party is over are dumping it on us and the system. They should never have been allowed in the first place and I hope they end up in court over this clear abuse of the system

[–] GlitterInfection@lemmy.world 15 points 9 months ago* (last edited 9 months ago)

I have an even more cynical take, in that the layoffs are the one lever that they have to try and get the interest rates to go back down so they can get free money again.

Flood the economy with people who can't afford stuff to get consumer spending down and then rates can lower again.