The big news this past week were the layoffs in the tech industry.
The "work-from-home" movement during the pandemic drove a hiring spree and government grants and "free money" made it possible for tech giants to go on a hiring spree.
Now, things have changed, and the tech companies appear to need to cut staff by 5% to 20%.
Many of the cuts will affect high-income tech folks (Intel) but to a greater extent, it will affect the minimum-way package movers (Amazon). Riding-sharing (Uber)? Time will tell.
There will be personnel cuts but that doesn't mean other activity won't go on.
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