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American Silicon Valley was swept by a wave of layoffs

Date: February 25, 2024 Time: 18:01:29

The crisis, compounded by the residual impact of the pandemic, is to blame, say experts

Photo: Shutterstock

American billionaire, head of several companies, and most recently Twitter owner Elon Musk decided that everyone should earn their own bread and butter on their own, and canceled free lunches.

And a wave of layoffs swept through Silicon Valley.

At Twitter, 80% of employees immediately lost their jobs, and this is the highest proportion of layoffs among Internet giants.

But this social network is far from the only job that could have been lost in the past year: Employees of the Stripe payment system, the entertainment company and streaming service Netflix, the largest food delivery company DoorDash and many others are not saved from layoffs.

The worst now are the pampered employees of Google, accustomed not only to fancy dining rooms, but also to quiet hours, a corporate janitor who takes on most of the household chores, and constant bonuses. Until now, they have not begun to actively reduce them and deprive them of benefits, but the ax has already been introduced.

The abolition of privileges can be arbitrarily explained by the “Russian trace” and politics, but, according to experts, the crisis, exacerbated by the residual impact of the pandemic, is to blame for everything. And also – the lack of technological advances, despite all the conditions created.

Thus, the IT celestials will not only have to come down to earth, but also compete for their current spots, which will become much less attractive in the very near future.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.
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