Downturn in Tech Successively Impacts Retail

With economic uncertainty and a potential recession looming, companies are taking swift action to hedge against any downturn in sales. The tech sector, in particular, appears to be at a crossroads that we haven’t seen in the past and many companies are laying off staff to protect their bottom line. Twitter, Meta, Salesforce, Amazon and others cut staff in the thousands, and created a larger candidate pool of former tech workers than ever before. 

What do these layoffs have to do with retail though? Retail and tech have long been intertwined, but usually only for specific use cases. While at the surface level, this might not seem like a huge hit to retailers, the impact may have multiple repercussions for the industry.