In the first fortnight of the year, nearly 25,000 tech workers were laid off

The tech sector is not just downsizing, but it’s doing what it takes to be, said Jeff Shulman, a professor at University of Washington’s Foster School of Business. “There’s a herding effect in tech,” he said. Shulman added that if it appears as if an entire sector is experiencing a downward shift, it takes the focus off of any single individual company.