You’ve seen the news by now: tech companies are laying people off in droves. Nearly 60,000 people have been laid off from Bay Area-based tech companies since November 2022, according to the latest estimates from Layoffs.fyi, a website that has tracked tech layoffs since the start of the pandemic.
Companies cite everything from the need to cut costs, to over-hiring during the pandemic, to fears of a looming recession. But what’s really going on? And what does it mean for the tens of thousands of people who once worked in an industry that is famous for the perks, fancy offices, high pay, and stability?
Guest: Kevin Vu Nguyen, Bay Area journalist whose work has appeared in the SF Standard, the Sacramento Bee, and the Guardian