Thousands of Silicon Valley employees have been laid off over the past year, often finding out the bad news by email. Hit hard by rampant inflation and over-hiring during the Covid pandemic, the US tech giants of the San Francisco Bay Area have faced one of the worst crises in their history. A few months ago, a banking crisis added to their woes, when Silicon Valley Bank went bankrupt, before being rescued by the federal government at the last minute. Nevertheless, the tech sector – renowned for its resilience – is refusing to give in to defeatism, as our team reports.
