Microsoft to cut 10,000 jobs as wave of layoffs sweeps tech industry

https://www.washingtonpost.com/technology/2023/01/18/microsoft-layoffs-tech-industry/

Microsoft layoffs suggest broader pain to come for the economy

Headwinds in the tech sector could portend a larger economic slowdown in 2023, experts say.

The Washington Post
@RoyalHoeliness but they’re definitely big and stable enough to buy Activision or whatever, right?
@RoyalHoeliness And it's stupid to do so. It's not like they are bleeding money. Just want to give stockholders better returns. Capitalism is dumb.
@RoyalHoeliness Cuts are all about keeping their employees in line, and getting rid of people who are at the top of their pay range. Can't give you a raise now - don't you see we are cutting. This has worked for the last 30 years and in the past they have always refilled those positions with younger lower paid employees. The interesting story is whether they will be able to refill those positions now that the population bubble of the baby boom is gone combined with the effects of long covid.