What's going on in Silicon Valley? Revenue is looking good almost across the board. Advancements in artificial intelligence—and the infrastructure that supports it—are surging. But layoffs also keep happening. Is this the new paradigm the sector must adjust to?
"Technology firms have announced more than 141,000 job cuts so far this year, according to outplacement firm Challenger, Gray & Christmas, a 17 percent increase from the same period last year," reports The Washington Post. "In the last two years, the tech workforce has shrunk nationwide by about 3 percent a year, with California posting a much steeper 19 percent drop, according to data from the U.S. Bureau of Labor Statistics."
