[updated November 24] Tens of thousands of workers in the technology sector have been laid off this year. Estimates vary, depending on when you start counting — January or June — and how you categorize the workers. The capitalist class, which has used “high tech” to lower the wages of workers in

The Meta layoffs go along with a tremendous decline in its stock value. Valued at $1 trillion only a year ago, the value of the company, measured by its price on the stock market, dropped to a quarter of what it was at its peak. Meta’s stock decline is roughly the same as the decline in cryptocurrencies over the same period. According to the Nov. 10 New York Times, “Stocks like Meta, Microsoft, Amazon and Apple have suffered staggering losses [in market value] this year.”