CFO's will follow suit and Wallstreet will begin to expect tech to make cuts ...
It's getting noticed that Twitter/X reduced it's staff by 80%, and also reduced it's cloud spend by 60% ... and there hasn't been any material change to their business.
Some might argue that Twitter/X has been able to innovate faster as a result.
Now I'm not suggesting that FANG is going to layoff 80% overnight. But I wouldn't be surprised if CFOs gradually over time continue reduce their headcount, or keep headcount flat over the years to come.
It's getting noticed that Twitter/X reduced it's staff by 80%, and also reduced it's cloud spend by 60% ... and there hasn't been any material change to their business.
Some might argue that Twitter/X has been able to innovate faster as a result.
Now I'm not suggesting that FANG is going to layoff 80% overnight. But I wouldn't be surprised if CFOs gradually over time continue reduce their headcount, or keep headcount flat over the years to come.
https://www.cnn.com/2023/04/12/tech/elon-musk-bbc-interview-...
https://twitter.com/XEng/status/1717754398410240018