Technology

58303 readers

34 users here now

This is a most excellent place for technology news and articles.

Our Rules

Follow the lemmy.world rules.
Only tech related content.
Be excellent to each another!
Mod approved content bots can post up to 10 articles per day.
Threads asking for personal tech support may be deleted.
Politics threads may be removed.
No memes allowed as posts, OK to post as comments.
Only approved bots from the list below, to ask if your bot can be added please contact us.
Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago

MODERATORS

[email protected]

233

Nearly 25,000 tech workers were laid off in the first weeks of 2024. Why is that? (www.npr.org)

submitted 9 months ago by [email protected] to c/[email protected]

48 comments fedilink hide all child comments

Nearly 25,000 tech workers were laid off in the first weeks of 2024. Why is that?::undefined

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 1 points 9 months ago (2 children)

Hopefully they’re wrong. Commercial real estate should have no direct impact on most tech

[–] [email protected] 2 points 9 months ago

It shouldn't, but there shouldn't have been a connection between home mortgages and the auto industry either.
It's not just the connectedness of the industry sectors, but their mutual connection to financial markets.

[–] [email protected] 2 points 9 months ago

It won't.

It will have indirect impact. The question is how much.

If the entire economy is down, people have less disposable income. The big income areas in tech are advertising, goods sales, monthly streaming services, and cloud compute.

Less disposable income = less people buying things they're advertised, less people buying shit they don't need off Amazon, less people keeping their Prime, Netflix, YouTube Premium, Spotify, or Disney+ accounts active, and less cloud compute resources needed to drive e-commerce websites.