Is there a higher res? And also, what are the reasons for the layoffs? And also, does this account for the western companies that used to operate in Russia (i.e. Intel, Harman)
There’s an interactive version in the link https://www.trueup.io/layoffs
A lot of this is a result of the unfolding economic crisis. Consumer spending is down, and as companies start seeing revenue drops they start cutting costs. Ad spending tends to be one of the first things to get cut because it doesn’t show tangible revenue. A lot of these tech companies run on ads as their primary source of revenue.
Decoupling from Russia is likely playing mostly an indirect role. Companies obviously lost a lot of revenue in Russia, but the recession is likely a much bigger factor.
Thank you
