Markets
Tech Company Layoffs And The Job Market
Layoffs and jokes don’t belong together so we will just say that a bunch of bright, technically adept, people just re-entered the workforce and automotive is only getting more technical by the day. Ya dig?
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Tech Troubles. Amid rising economic uncertainty, "Big Tech" and the like have been feeling the pressure and cutting jobs in droves. Here are just a few of the latest layoff figures:
- Spotify - 600 employees
- Twitter - 3,700 employees
- SalesForce - 7,000 employees
- Microsoft - 10,000 employees
- Meta - 11,000 employees
- Google - 12,000 employees
- Amazon - 18,000 employees
The Job Market. While these numbers may seem grim, the overall health of the American labor force is doing ok. The US unemployment rate dropped .4% to 3.5% in December 2022. While not all jobs are equal, there are currently 10.7M open jobs (1.2M more than in 2020), which equals about 1.7 jobs per unemployed American.
