The tech bubble is bursting, did you miss the memo? Even after the recent dead cat bounce, FAANG stocks are down 30%+ with their revenue growth collapsing and they are laying off workers, and it's a whole lot worse for all the non-profitable zombie companies that have been surviving solely on ZIRP and Quantitative Easing absurdly loose financial conditions that have come to an abrupt halt. Naive investors in the tech…
Let's face facts most of the FAANG were/are overstaffed. If Twitter can reduce its staff by nearly 50% and still function then the other tech companies can reduce their staff too. They are just resizing. This is a good time, while there's a threat of a recession, to reduce the number while not scaring the stockholders too much. It's not a burst similar to 2000. It's a correction. Tech is too vital for the economy for it to just fall apart. I expect tech stocks to be booming within the next 2 years. But yes, it's sucking right now.
Also, don't expect working from home to be your choice anymore. Now companies will gain the upper hand on the working from home debate since there's going to be many people looking to fill the same position. It was nice while it lasted.