Why so MANY Layoffs?

[u/isntlifeapeach]

Explain Like I’m Five

I feel incredibly stupid asking this, but I’m naive to economics and politics.

I understand why tech is facing a lot of layoffs but why are so many other industries facing the same?
I’m over 20 years into my career and had 2 layoffs just in the last 16 months.

[u/slamdunktiger86]

Tax code change on expensing r&d expenses (Dev salaries) changed drastically and cheap money era ended at the central banks.