Literally, this.
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Big tech went though a bubble where they over hired and offered a lot of unnecessary but appealing high end perks for tech hired to keep that talent from competitors. They didn’t hire everyone because they needed them, they just didn’t want someone else picking them up. The tech industry and economy as a whole has shifted and now they can cut those extras.
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Tech sector went ape during the pandemic in a effort to cash in but no one bothered to plan for the post pandemic landscape.
And shareholders gots to get paid.
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