How will the layoffs of the past week impact the wider economy?

Listen | 31:53
Meta has confirmed it plans to cut more than 11,000 jobs globally as part of a major restructuring of the tech giant. The cuts will reduce the size of the company's workforce by about 13 percent.

The job losses announced by Meta and Stripe may provide an indication of layoffs across the tech sector.

Inside Business is analysing the impact of the redundancies, announced over the past week, across the wider Irish economy.

After enjoying bumper profits and a surge in recruitment during the pandemic, interest rate rises and the cost of living crisis have finally caught up with the tech giants.

But is the crunch merely a recalibration of the sector or a more foreboding warning of global recession?

READ MORE

Ciaran Hancock, Cliff Taylor and Laura Slattery analyse how prepared we are to absorb the losses, what the impact on the commercial property market will be and does the IDA have a Plan B should the multinationals pare back significantly.