Why so much lay off?
The outbreak of the COVID-19 pandemic has dealt a major blow to tech companies worldwide. Now, tech giants are teetering on the brink of bankruptcy in the face of decades-high inflation and rapidly rising interest rates. Because in the past few years, they have expanded so fast and are now having to find ways to cut costs, amid the risky economic situation. In this case, the cost of salaries for employees is always the most expensive expense of any business so mass layoffs are inevitable. In today's video, Tom will go deeper into the potential reasons for the current lay off.
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