by Wolf Richter, Wolf Street:

There have been a gazillion layoff announcements by companies headquartered in San Francisco and in Silicon Valley, and there are websites that track those announcements as they’re published in the media, and folks throw around big numbers, such as 200,000 tech layoffs, etc.

In reality, most of these companies are global companies with facilities around the US and around the globe, and the layoffs are global, and many people who got laid off in the US are working from home, and even if their office was theoretically in San Francisco, they might have been living in another state for all we know, and economically, that layoff impacts the local economy in that state.