'There is a huge focus on cutting costs and driving greater efficiencies to improve margins for the year ahead.' ![]() 'This creates a lot of uncertainty as it is hard to predict consumer behaviour and spending. 'Huge concerns given that we are moving into a recessionary period,' he told MailOnline. Mr Pescatore also blamed the layoffs on 'a poor earnings quarter for many of the big tech companies. He specifically cited Meta and its Metaverse. The 'triple whammy' of a slowing economy, inflation and an end to pandemic-driven growth are all affecting the tech industry.īut according to tech analyst Paolo Pescatore, certain companies have made 'huge gambles' which will 'take many years to come to fruition, let alone think about making a profit'.
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