WHAT'S BEHIND THE TECH INDUSTRY'S MASS LAYOFFS IN 2024?

Summary from the TLDR Web Dev newsletter

In the first four weeks of 2024, nearly 100 tech companies, including Meta, Amazon, Microsoft, Google, TikTok, and Salesforce, have collectively laid off about 25,000 employees, despite their stock prices returning to pre-pandemic levels and being highly profitable. These layoffs seem to be aimed at satisfying investors and boosting stock prices. They are driven by copycat behavior and may not actually be necessary.