Microsoft has announced it is laying off nearly 2,000 employees from its gaming division, the result of its blockbuster purchase of “Call of Duty” creator Activision Blizzard.
eBay, Salesforce, Duolingo and dozens of other companies have also cut headcount, and struggling startups have been forced to downsize as the high interest rate environment has left them short of financing.
For Roger Lee, creator of the Layoffs.fyi website, the main focus remains on the shock of over-hiring when everyone was stuck at home.
He also pointed to a copycat effect where companies announce layoffs because their rivals do so, seeking the tacit approval of Wall Street or venture capitalists who approve of the good spending.
“It could encourage those tech companies to cut costs and lay off employees,” Lee told American radio network NPR.