Big tech companies had big layoffs. Then they saw big profits ...Middle East

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In the last year, tech giants made massive cuts to their workforce, which didn’t just please investors — they led to sky-high profits. Meta, for instance, saw its net income soar 201% in the last three months of 2023, from $4.65 billion to $14.02 billion. HGTV’s Tarek El Moussa on how to flip houses for a profit | Your Wallet Big tech companies overhired because they can Between 2020 and 2022, Meta hired the most out of its fellow peers. Software companies have a high level of profitability: in the industry, gross margins typically range from 70% to 80%, said Gil Luria, a senior software analyst at financial services firm DA Davidson. Tech companies indulged a desire to

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