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This is CBS, I'm the world. I'm John Bachelor. The scholar report with CEO Chris Regal of

scholar.com, a global technology firm, transforming the retail space with digital signage. We go

immediately to the story of tech worldwide, but especially focused on the US and over these

last weeks, there have been anecdotes again and again about layoffs in tech, perhaps reacting

to the end of the pandemic, perhaps anticipating the long awaited recession of 2023. Chris,

a very good evening to you. I note in the month of November, which is the most recent statistics

we have from tech layoffs, that November is dominated by three firm layoffs, Twitter,

Amazon and Meta. Can we regard those layoffs as pandemic related, as recession related,

as anxiety about 2023, or is this the each of these companies over employed? They overestimated

what would happen after the pandemic and we went back to work. Good evening to you, Chris.

In the Amazon case, it's most likely that these were excess employees that were brought

into the company during the pandemic where you had shortages of employees and Amazon was

hiring anyone and everyone. When you get to the others, it tends to be more shifts in business.

In Twitter, obviously, Mr. Musk is disrupting lots of normal activities, shaking up the company

to see what that future holds. Then as you go to Facebook, now Facebook is starting to say

maybe all the investments in the metaverse weren't exactly the best moves and maybe that's

...