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Euro News: Tech companies are laying off thousands of workers. What does this mean for the industry?

John Van Reenen, a professor and economist at the London School of Economics, said the industry “had a tough year last year mainly due to over-hiring during/post-pandemic”. “There was a huge boom in demand for IT due to remote work, online shopping, etc. Some of this reversed post-pandemic to a greater extent than the companies imagined,” he added. 

Read more at Euro News.