I was concerned by how quickly layoffs were spreading across the technology sector during that period.
At the time, many reports were pointing to companies cutting costs, slowing hiring, and preparing for an uncertain economic future. It was not limited to one type of business either. Large technology companies, media organizations, and web-focused businesses were all being affected in different ways.
One of the points I was quoting then was that companies with relatively low physical overhead could still burn through cash quickly, especially when growth slowed or confidence dropped. That made layoffs and furloughs a recurring part of the news cycle.
I also noted that California was already discussing furloughs for state workers, which made the broader economic pressure feel even more serious.
The running list I linked to at the time was:
My closing thought then was simple: I hoped the same wave would not hit the Philippines in the same way.