Monday, February 6, 2023

Tech Sector Cuts Thousands of Jobs - Layoffs Reach 2 Year High

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January saw layoffs reach an alarming two-year high, as major tech firms like Microsoft and Amazon took drastic action to prepare for a possible recession. 

The number of affected workers totaled over 100 thousand - five times more than the amount reported in January 2019. 

Companies across industries are scaling back their workforce due to economic uncertainty caused by high inflation and rising interest rates which has led to a decrease in consumer and corporate spending.

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