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Why have there been massive layoff in the tech industry recently? (lemmygrad.ml)

submitted 8 months ago by [email protected] to c/[email protected]

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[–] [email protected] 13 points 8 months ago* (last edited 8 months ago)

The tech sector grew up on a glut from cheap credit before the Fed started raising interest rates, but now that rates are up and are staying up they have to start paying down debts.

At least, that's my understanding from hearing finance dorks whine lol

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