Though overall layoffs in the country reported by global outplacement firm Challenger, Gray & Christmas on Thursday fell 14.7% in May from April, thanks to strong demand in the labor market, the technology sector cut 4,044 jobs, up from the 459 between January and April. It is the highest monthly total since December 2020 when tech companies cut as many as 5,253 jobs. "Many technology startups that saw tremendous growth in 2020, particularly in the real estate, financial, and delivery sectors, are beginning to see a slowdown in users, and coupled with inflation and interest rate concerns, are restructuring their workforces to cut costs," said Andrew Challenger, senior vice president of challenger, Gray & Christmas.

Just learn to code lol, it's not like the entire coding sector of our economy will ever experience a downturn all at once. It's not like this will happen during a time when capital is trying to push down wages. It's not like mass unemployment will drive down wages for them so they get to ride inflationary price hikes into a new tier of wealth while offloading the cost of the consumer onto workers.

  • UlyssesT
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    12 days ago

    deleted by creator