The numbers are staggering:
— Microsoft: Paid extra $4.8 BILLION in taxes, fired 16,000+ workers
— Meta: Cut 21,000 employees (25% of workforce) after "material" tax increases
— Amazon: 27,000 layoffs concentrated in R&D teams
— Google: 12,000 cuts despite record profits2/4
— Deedy (@deedydas) June 8, 2025
Tech companies are now incentivized to
— Hire more offshore, taking jobs away from the US
— Buy vs build when it comes to 3rd party SaaS
— Spend less on R&D: layoffs.This is death by accounting.
4/4
— Deedy (@deedydas) June 8, 2025
This has been around since 2022 and isn’t new. Thought it was worth pointing out since it really isn’t talked about enough.
A lot of the narrative on layoffs goes to “AI taking our jobs” and not (a) slowing top line growth (b) over hiring in the pandemic (c) this tax burden
— Deedy (@deedydas) June 8, 2025