Recently, tech has felt like career Chernobyl, with well over 200,000 people laid off over the past year. Amazon, Alphabet, Microsoft, Meta, etc. Every big tech company, and many smaller ones, seems determined to shed 5% to 10% of their employees because “growth rates [are] slow[ing] as enterprises of all sizes evaluate … ways to optimize their cloud spending in response to the tough macroeconomic conditions.” Thus spake Amazon CFO Brian Olsavsky on the company’s recent earnings call, and it’s a familiar refrain among tech executives these days.

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