StockNinja99 t1_ja45on9 wrote on February 26, 2023 at 6:36 PM

Reply to comment by vaibhav_bu in What Happens From Here? by B3stAuD1t0rofA11tiME

The layoffs are a tiny fraction of the workforce, many these tech firms still have more people on the payroll then in 2020

vaibhav_bu t1_ja5sqzx wrote on February 27, 2023 at 1:27 AM

I don’t think using the same number of employees as 2020 is a good measure to see if the companies are bloated. But the amount of “wasted resources” in big tech companies (FAANG) is insane. The only reason why they were able to support this was because of the crazy profits that were raked in, take that profit out of the equation and everything falls through.