https://techcrunch.com/2023/10/23/fresh-round-tech-layoffs/

In January, nearly 90,000 tech workers were laid off. By September that number had dipped to under 5,000, suggesting that perhaps massive layoffs were mercifully over, and we could look ahead to a brighter 2024 with improving economic conditions. Then came October with a fresh wave of layoffs from companies large and small.

At first blush it feels perplexing. Some of the economic factors that were putting pressure on companies late last year and into this year felt like they were easing, and that would suggest a turnaround at some point, even if it took a while. Many economists have been saying recently that we will actually avoid a recession, which would seem like a reason for optimism. Yet tech companies keep cutting their workforces.