Why are major tech companies laying off so many employees?

Big companies are letting go of many people because they want to save money and focus on what works best.

Imagine you have a big toy factory where everyone builds toys. For a while, the factory was super busy, lots of kids wanted toys! So the factory hired more workers to make even more toys. But now, the toy demand has slowed down, not as many kids want new toys anymore.

So, the factory decides it doesn’t need all those extra workers right now. It’s like when you have too many friends over for a party and then some of them go home because there's just not enough cake left. The company is saving money by letting some people go, so they can keep the important parts running smoothly.

Sometimes these workers find new jobs at other companies, like moving from one toy factory to another. Other times, they might take a break or learn new skills before finding a job again. It's not the end of the world, it’s just like changing toys when you're done playing with one set.

Companies also want to be ready for the future, so they might keep only the most useful parts of their team and let others go temporarily.