Lackluster earnings reports show Big Tech’s golden age is fading

February 04, 2023

The Big Tech companies that won dominance of the internet brought in billions of dollars a year, spending it on eye-popping salaries, gleaming offices and constant acquisition of smaller companies. Tech companies have cut almost 80,000 employees in the San Francisco Bay Area since the beginning of 2022, according to layoff tracking website The big companies are all pushing AI to the front of their marketing and are trying to launch products faster. Software engineers fresh out of college could expect to make $180,000 a year in pay and stock grants if they won a coveted Big Tech job. Apple is the one Big Tech company that hasn’t announced major layoffs.