Twitter's downsizing might be hogging the spotlight, but the social media giant does not stand alone. The tech industry has seen months of steady layoffs now, affecting many across the Bay Area.
"In the back of your mind, I guess, you expect that it could happen," 'Bart' said of his layoff notice."But it was pretty sudden."
"I think a lot of people over hired, that is a big part of it," he said of the industry wide layoffs."A lot of companies had a lot of growth during COVID and over hired." Groth says the tech world has seen layoffs every three to five years, so that's not uncommon. What's different is this macroeconomic landscape. Inflation, geopolitical turmoil, and continuing talk of a looming recession paint things in a different light.
"Hopefully, in that balancing, we will get to that soft landing. If everybody was laying off then we'd have a fear of hard, rude awakening next year. But this way, with two steps forward, one step back, hopefully we can calibrate this so it doesn't become a wholesale bust in the economy."
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