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Strategies & Market Trends : The Financial Collapse of 2001 Unwinding

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From: elmatador11/29/2022 12:22:35 AM
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Recruiters at Amazon could throw more than $700,000 at a qualified engineer or project manager.

At gaming company Roblox, a top-level engineer could make $1.2 million, according to Levels.fyi.

Productivity software firm Asana, which held its stock market debut in 2020, has never turned a profit but offered engineers starting salaries of up to $198,000, according to H1-B visa data.

Fast forward to the last quarter of 2022, and those halcyon days are a distant memory.

Layoffs at Cisco, Meta, Amazon and Twitter have totaled nearly 29,000 workers, according to data collected by the website Layoffs.fyi.

Across the tech industry, the cuts add up to over 130,000 workers. HP

announced this week it’s eliminating 4,000 to 6,000 jobs over the next three years.

For many investors, it was just a matter of time.

cnbc.com
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