These Jobs Are At HIGH RISK of Layoffs in 2023
Tech jobs are at risk of layoffs due to overhiring, automation, and poor stock performance.
In the late 1990s, companies in the tech sector experienced a huge boom that led to overhiring and rapid expansion. This created an unsustainable bubble of inflated stock values and a large number of tech companies with too many employees relative to the demand for their services.
When the bubble burst in 2000, many of these companies had to lay off significant numbers of employees in order to downsize and become profitable again.
The increased automation of processes in the tech industry has led to further job losses as companies strive to reduce costs and become more efficient. This automation has been further exacerbated by the recent poor performance of tech stocks, which has led to increased pressure on companies to cut costs and remain profitable.
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