Facebook, Twitter, And Amazon Hiring Freezes And Layoffs Ramp Up

The technology industry is feeling the pinch overall due to the pressures of economics and a perceived downturn, with layoffs and hiring freezes. Other companies are cutting jobs or are slowing down or stopping hiring in response to weakened demand. While cuts are happening at every stage, many recent job cuts are coming from companies that, only one year ago, were reaching unicorn status. To date, the majority of the job losses appear to have been directed at younger workers, with many companies taking the “last hired, first fired” approach to their downsizing.