Including at Meta and Amazon, there have been technology layoffs and hiring freezes

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  • Facebook’s parent company Meta plans to lay off employees this week.

No numbers have been released, but reports say these job cuts are significant and could be expected by the end of this week.

That comes when Amazon announced on Thursday that it would freeze hiring firms due to economic uncertainty.

In an official statement, Amazon said, “Given the number of employees (companies) hired in recent years,” it is suspending not only corporate positions, but also hiring of “other companies” owned by Amazon. says.

“I think people are starting to think, ‘Am I next? . “And when people ask if they’re next, that uncertainty drives austerity. Saving means spending less where you’ve spent money before.”

Microsoft also announced last month that it would lay off about 1,000 employees. KIRO 7 spoke to two professors from the University of Washington and Seattle University about what these technological changes mean for local economies.

But economists at Seattle University say these adjustments are “appropriate business strategy.” He said he doesn’t expect the economy to be hit too hard given the overall low unemployment rate.

“There are factors that suggest the recession will not be long lasting or painful,” said Vladimir Dashkiev, assistant professor of business and economics at Seattle University’s Albers School of Business and Economics.

That means people will continue to buy goods and provide services in return, so the economy shouldn’t suffer as much. Amazon plans to continue to hire a “significant number” of employees and plans to reassess its current hiring freeze in the coming months.

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