Tootfinder

It's all accounting...and the first-term Trump tax cuts.
https://www.professoraxelrod.com/p/the-tech-job-meltdown

The Tech Job Meltdown
Half a million layoffs? It's all accounting.

It is not AI that is driving tech layoffs. It’s the massive change in R&D writeoff rules that kicked in for TY2022, from the 2017 Trump tax bill.
The ability to “expense” R&D costs was in place for decades and arguably drove US innovation by making it cheap. Now R&D is amortized over 5 years for US work, 15 years for non-US work. The current reconciliation bill would bring back expensing of domestic R&D costs.

This is how important tax incentives are and why countries that only reactively shape their tax systems will keep lagging behind.
https://qz.com/tech-layoffs-tax-code-trump-section-174-microsoft-meta-1851783502

The hidden time bomb in the tax code that's fueling mass tech layoffs
A decades-old tax rule helped build America's tech economy. A quiet change under Trump helped dismantle it

I’m very tempted to speculate that this report is banned in corporate C-suite and HR:
Why are there so many tech layoffs, and why should we be worried?
https://news.stanford.edu/stories/2022/12/explains-recent-tech-layoffs-worried
What do you think?🤔