Apparently, these capitalist champions have not realised that there is a shortage of IT staff, and the markets are fighting over them. New figures from ZipRecruiter claim that the IT job market is so tight that tech workers are being snapped up.

ZipRecruiter found that 79 per cent found a new role within three months of termination. Apparently, it is a workers’ market, so lay-offs only provide a short-term solution which could place firing companies on the back foot.

ZipRecruiter, Chief economist Julia Pollak said tech workers were still the most sought-after workers with the most in-demand skills.

“While companies like Meta, Microsoft, and Twitter have all experienced significant lay-offs in recent months, opportunities remain positively available.

Getting rid of tech staff will place companies in a difficult position further down the road when they need to hire more staff again. Not only will staff refuse to work for companies whose first response is to fire staff, but those that do come back will also want more money than if the far-sighted company had kept them in place.