Ironically, this time last year, the global tech sector was at its pinnacle. That’s despite private equity (PE) firms having bought out some of the unprofitable software firms this past year. Software or hardware engineers would join tech firms like Google, Apple and Facebook with hefty sign-on bonuses, stock options and other perks. In recent weeks, almost all of the large tech firms have announced layoffs. In 2023, as interest rates continue to rise, expect to see more “pain” for the tech sector.

Source: The Edge Markets January 09, 2023 22:11 UTC