People in tech industry unfazed by spate of layoffs, even as experts say outlook for sector remains uncertain

Meta announced that it will be cutting off more than 11,000 employees on Wednesday (Nov 9).

They are just one of several tech companies that have announced plans to downsize.

However, former employees laid off by companies told TODAY they have no plans to leave the industry.

Experts say that these layoffs are fuelled by various factors, such as rising interest rates, inflation and investors’ risk appetites shrinking.

However, they say there are still opportunities for those laid off and companies can now hire from a larger pool of talent.