It seems like Elmo's word of the day (or month) is layoffs—at least in Silicon Valley.
Fueled by recession fears, companies have been laying off workers since the summer, from Wayfair and Ford to Redfin and Compass. Wall Street and Big Tech have taken hits, with places like JP Morgan and Goldman Sachs, as well as Snap and Coinbase issuing layoffs. Most recently, Twitter let go of almost half its workforce and Meta laid off around 11,000 employees.
