At Amazon, the online shopping business took off like never before. To meet demand, the retail giant doubled its logistics network. And added hundreds of thousands of employees.
With the pandemic slowing shoppers returned to brick-and-mortar stores. Amazon cut costs and implemented a hiring freeze.
In 2022 with rising inflation and downturns in the stock market, the economy flattened. And tech companies that had soared during the pandemic took a dive.
Facebook’s parent company Meta Platforms Inc. announced it would cut more than 11,000 workers. There have also been substantial layoffs at Salesforce, Lyft, and Dell.
