According to Zuckerburg, it’s because the surge of COVID-era internet use caused excessive hires that are now redundant due to people going outside more. Not as many people using Zoom or Facebook leads to less demand for maintenance and less advertising money, which leads to layoffs.
https://www.npr.org/2022/11/14/1136659617/tech-layoffs-amazon-meta-twitter
According to Zuckerburg, it’s because the surge of COVID-era internet use caused excessive hires that are now redundant due to people going outside more. Not as many people using Zoom or Facebook leads to less demand for maintenance and less advertising money, which leads to layoffs.