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- Tech's 'year of efficiency' is showing early signs of working.
- Microsoft, Google, and Meta all saw share price rises after reporting better-than-expected results.
- That follows a major retrenching by firms including mass layoffs and a focus on AI.
It's out with fake work and in with artificial intelligence.
The tech sector's recent bout of cost-cutting, from chopping back free breakfasts and lunches to axing thousands of workers, is not just about surviving short-term difficulties. It's about the current crop of tech CEOs showing investors they can run a tight ship well into the future.
And early signs suggest the strategy is a success.