The Big Picture

Vincent Boland: Tech’s accelerating slide is about value, culture and credibility

Big tech is facing a reckoning with diminishing advertising, overvalued stocks, stagnant innovation and encroaching regulation just some of the factors the shrinking sector is struggling to deal with

The pace of job losses in the technology industry is accelerating rather than slowing. According to the website, which tracks the trend across the industry, just over 1,000 tech companies laid off nearly 160,000 workers last year. So far this year, there have been 60,000 job cuts at 200 companies.

This is a sign of an industry in retreat. After two decades of unbroken expansion, the global tech industry, and especially its fountainhead in ...