Microsoft to cut nearly 1,000 jobs: reports

[Yavin4]

2. Most corporate layoffs are not actual people being let go.

Rather, it's allowing natural attrition to happen. Not replacing the retired worker or the worker that got a better job somewhere else.

Also, the tech sector is highly R&D. When interest rates rise, corporations cut back severely on R&D as investors are looking for more value. They would rather that excess cash be paid out in dividends, not used for R&D projects.