Firstly, Happy New Year to this community.
Secondly, I would like to know if inflation is cooling down around the world then why FAANG and other big companies are firing staff? Is recession still a possibility or these companies know something we don’t? An impending trigger?
This is the beginning of the end.
I feel, with inflation, people will become more conservative and conserve cash and will spend on essentials. As you know, FAANG are not essential for living and this results in advertisement and people using their products (if i can call this product) will come down. When revenue falls, the only option for these companies is to reduce their cost and majority of their cost is human resource. Hence the layoffs.