Tech Giants Prep For More Massive Layoffs

  • Silicon Valley is swimming in former techies.
  • Big tech companies Meta, Atlassian, Sirius XM, and Microsoft are laying off substantial segments of their workforce in March.
  • With the tech industry’s slump following excessive hiring practices during the pandemic, companies are striving to make corrections through layoffs, according to CNN. The companies  have cited multiple factors for the change, but mainly attribute the cuts to boosting efficiency, rebalancing, and finances.
  • After laying off 11,000 employees in November 2022 in its first-ever major layoff, Meta, the parent company of Facebook and Instagram, is reportedly planning to lay off thousands more.