I think this is the first major layoff announcement at a big, established tech firm I've heard this year that is anywhere near this size. I mean, there have been loads of "couple hundred" employee layoffs, and certainly a lot of hiring slowdown/freezes, but again, haven't seen anything else near this big, and the layoffs previously seem to have been concentrated in unprofitable VC-funded companies. I know Tesla laid off a couple thousand people this summer, that's the closest thing that comes to mind.
Intel certainly has its own unique challenges, but even, for example, AMD had been doing pretty great up until this year, and they also just announced a big shortfall for their 3rd quarter results. Just wondering if this is really the tip of the iceberg for a true, broad retrenchment in tech, after the past 9 months of "Is a recession coming? Is a recession coming?"
Intel certainly has its own unique challenges, but even, for example, AMD had been doing pretty great up until this year, and they also just announced a big shortfall for their 3rd quarter results. Just wondering if this is really the tip of the iceberg for a true, broad retrenchment in tech, after the past 9 months of "Is a recession coming? Is a recession coming?"