Summary
- Companies that were growing significantly are now implementing cost-cutting measures - and perhaps the most visible change to investors has been large-scale layoffs and hiring freezes.
- Twitter announced it was laying off half of its workforce (around 3,700 employees - although reportedly some employees have asked to return).
- Despite several high-profile tech layoffs, the labor market is still relatively strong and overall layoff rates have so far been historically low.
For further details see:
Thematic Times: Not Yet Laboring Over Labor News For Thematic Constituents