Are the good times over for big tech?

Facebook, Amazon and Twitter are just a few of the tech companies cutting their workforces in anticipation of an economic downturn.

By Shelly BrisbinNovember 17, 2022 12:12 pm,

After a banner year in 2021, tech companies have laid off more than 62,000 workers in 2022, according to TechCrunch.

Reasons vary, but it’s clear that former high-flyers of the tech world – many of whom employ thousands of Texans – are struggling, along with the rest of the economy. Tech expert Omar Gallaga says fears of a global downturn in 2023 are driving many of the layoffs.

Highlights from this segment:

Amazon is laying off 10,000 people this month, across many of its businesses. People who work on devices like the Echo voice assistants are among those significantly affected.

– At Facebook parent Meta, the 11,000 employees let go amount to 13% of the workforce. The company blames lower ad revenue, along with heavy spending related to Facebook’s virtual reality products.

– Even before new owner Elon Musk fired half of Twitter’s workforce, the company was struggling with reduced revenues.

If you found the reporting above valuable, please consider making a donation to support it here. Your gift helps pay for everything you find on and Thanks for donating today.