> just screwed up and over-hired what's weird to me is that this is happening at... | Hacker News

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		twelve40 on Jan 12, 2023 \| parent \| context \| favorite \| on: Why are there so many tech layoffs, and why should... > just screwed up and over-hired what's weird to me is that this is happening at all kinds of companies, including ones with what I thought was pretty level-headed management. It's not just one company oops screwed up and over-hired, and "tech" is not really a monolith. Yet, they somehow all simultaneously screwed up and over-hired?

BaseballPhysics on Jan 12, 2023 [–]

This is the social contagion part of the theory.

The idea is that many--especially very high profile companies--overhired, and the rest are following the leader.

Stir in media hysteria around purported recessions and you can understand why leadership might start to pull the reins.

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