Mass layoffs in Big Tech are an old-guard mistake

By Stephen Mihm

15 Nov 2022 · 4 min read

Editor's Note

A Bloomberg columnist takes a fascinating look at the history of corporate downsizing and argues that the recent mass layoffs in Big Tech are counterproductive and stupid.

For years, fawning profiles have assured us that tech titans like Elon Musk, Jeff Bezos and Mark Zuckerberg are 21st century visionaries, not old-school corporate hacks - which is precisely why news of mass layoffs at Twitter, and Meta Platforms is so jarring.

Far from cutting-edge, these layoffs mark a revival of long-discredited corporate strategies. If the trend continues, history suggests these tech leaders will leave their companies severely crippled, at best.

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