The massive tech layoffs since 2023 aren't primarily due to AI, overhiring, or economic downturns, but rather a tax policy change. Section 174 of the Tax Cuts and Jobs Act eliminated the ability to immediately deduct R&D expenses, forcing companies to amortize them over 5-15 years instead. This created immediate cash flow problems and higher tax bills for tech companies, leading to over 500,000 layoffs. The policy was designed to offset corporate tax cuts in 2017 but has driven companies to move R&D operations overseas and cut US-based engineering jobs. The change particularly hurt startups and growth companies that relied on R&D write-offs to manage their tax burden while investing in innovation.
The massive tech layoffs since 2023 aren't primarily due to AI, overhiring, or economic downturns, but rather a tax policy change. Section 174 of the Tax Cuts and Jobs Act eliminated the ability to immediately deduct R&D expenses, forcing companies to amortize them over 5-15 years instead. This created immediate cash flow problems and higher tax bills for tech companies, leading to over 500,000 layoffs. The policy was designed to offset corporate tax cuts in 2017 but has driven companies to move R&D operations overseas and cut US-based engineering jobs. The change particularly hurt startups and growth companies that relied on R&D write-offs to manage their tax burden while investing in innovation.
Telegram desktop app: In the upper left corner, click the Menu icon (the one with three lines). Select “New Channel” from the drop-down menu. As five out of seven counts were serious, Hui sentenced Ng to six years and six months in jail. Judge Hui described Ng as inciting others to “commit a massacre” with three posts teaching people to make “toxic chlorine gas bombs,” target police stations, police quarters and the city’s metro stations. This offence was “rather serious,” the court said. A new window will come up. Enter your channel name and bio. (See the character limits above.) Click “Create.” During the meeting with TSE Minister Edson Fachin, Perekopsky also mentioned the TSE channel on the platform as one of the firm's key success stories. Launched as part of the company's commitments to tackle the spread of fake news in Brazil, the verified channel has attracted more than 184,000 members in less than a month.
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