It's the end of the boom times in tech, as layoffs keep mounting

PO1 William "Chip" Nagel
..."For more than two decades, the U.S. tech industry has been a reliable source of booming stocks and cushy, high-paid jobs. In the span of weeks, the sheen has faded and the ax has fallen.

More than 24,000 tech workers across 72 companies have been laid off this month, adding to a total of 120,000 tech jobs lost this year, according to layoffs.fyi, which tracks job cuts in the tech industry. It's safe to say a reckoning is underway, even as each company is grappling with its own challenges. (See: Twitter.)

Many of the companies making public statements have cited at least one of two primary causes:

First, they hired a lot of employees during the pandemic, when people were extremely online. Now, the internet boom has faded, offline life has picked up, and those new employees seem too expensive.

Second, broader economic wobbles have made brands more reluctant to spend on digital ads–a source of revenue for many tech companies. High interest rates have put an end to the cheap-money era of venture capital.

Here are some of the companies that have announced the biggest job cuts.

Amazon: a reported 10,000 jobs"...

All the tech guys and the on line ordering folks are in danger of layoffs.