Explosive growth has been the norm in the tech sector for the past decade.
When the Covid-19 pandemic ravaged the world and moved more of daily life online, tech hiring blazed across Silicon Valley even more. Some major tech companies, like Amazon and Facebook parent company Meta, doubled the number of people they employed to stay apace with new demand.
But now, the exuberance is fading.
The industry is confronting one of its worst contractions in history with Meta, Google, Microsoft and Amazon all announcing mass layoffs over the span of a few months. According to tech job tracker layoffs.fyi, there have been more than 200,000 tech jobs lost since the start of last year.
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