Economy

Follow coverage of the U.S. and global economy, jobs and unemployment; banking; interest rates and other decisions by the Federal Reserve (Fed) and Chair; and economic indicators such as the gross domestic product (GDP), factory orders and durable goods. Other topics include the federal budget deficit and national debt, and local economic columnist Jon Talton.

As job cuts roil tech, workers confront post-boom reality

FILE – A sign at the corporate campus of Meta, which owns Facebook and Instagram, in Menlo Park, Calif., on Feb. 16, 2022. Meta has plowed billions of dollars into its ‘metaverse’ – just as inflation has soared and investors have begun paying more attention to costs. The combination has been nothing short of disastrous. (Jim Wilson/The New York Times) XNYT141 XNYT141

After years of exuberant growth and hiring, layoffs have burst the bubble of Big Tech inviolability.

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