It is safe to say that Donald Trump’s re-election is having a substantial impact on the stock market, both in the USA and worldwide. The tariffs he plans to implement will radically change the economic landscape and flood the markets with extreme instability at a time when little seems to be certain.
With the past two years of mass job cuts 2024 looks to be taking the same route. Tech companies continue to announce layoffs, amid this advancement of technology. In January of this year over 34,000 people were laid off from over 40 different companies.
In total this year 457 tech companies have laid off 143,136 employees, for some companies these layoffs are a way of restructuring while others had to close down whole departments due to slow revenue growth.
Despite this uncertainty in the US, it is clear that the era of government friendliness towards Big Tech is over, and it is probable that in the future more and more lawsuits will be filed as governments seek to limit the power, size, and influence of Big Tech.
This article is written in conjunction with the IE Law Society.
By Paulette Freixas
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