Stevenson explains tech layoffs

January 27, 2023 Yahoo! News

Betsey Stevenson, Yahoo! News: "They hired for magical thinking. So what they're having to do right now is readjust for reality. As you've already shown, the layoffs we're seeing here are small compared to not just the hiring they did during 2020 and 2021, but the overhiring that they did relative to where they had been when the pandemic started. So I think we're seeing a readjustment here. And this readjustment makes sense."