Despite the fact that huge IT businesses are reducing employees, they are nonetheless highly lucrative and have large revenues. Last quarter, Microsoft recorded a net income of $17.6 billion and revenue of $50.1 billion. For its part, Alphabet recorded a net income of $13.9 billion on revenue of $69.1 billion. The employment losses indicate that the IT sector is bracing for a slump as corporations prepare for the year 2023. The next two years are projected to be the most difficult, as demand normalises following the pandemic.
