Sudden Layoffs in the Face of Adversity Reflect Firm's Employee Concerns: Hashcash CEO Raj Chowdhury on Tech Downsizing
PALO ALTO, Calif., Nov. 15, 2022 /PRNewswire-PRWeb/ -- The tech world is currently facing a major crisis. Popular social media platforms such as Twitter and Meta have slashed their workforce with mass layoffs. Twitter fired 50% of its employees, and Meta followed suit by sacking 11K employees. The pattern is consistent across major tech giants citing imminent recession, over-hiring, job redundancy, and other factors. HashCash chief Raj Chowdhury however believes that the downsizing approach is not ideal, and will have a negative impact in the future.