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big Tech is slashing hundreds of thousands of jobs and blaming artificial intelligence but there may be more to the story than that Intel just announced 15,000 layoffs yesterday causing their stock price to plunge big Tech who for over a decade provided all sorts of employee perks May no longer be the dream place to work in 2009 a friend of mine who had quit his job in Investment Banking joked that in the wake of the financial crisis being an investment banker was like being an airline stewardess the job used to be glamorous and well paid and now it was neither after the financial crisis central banks around the world slashed interest rates to near zero which was bad for banks but good for startups and the tech industry ing to the St Louis fed over the 5 years after the financial crisis jobs in the tech sector expanded by more than 20% compared to 11 % job growth in the overall US economy Tech sector wages which were already high grew at roughly 5% per year over the same period it beca
