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Tech Firms Keep Laying Off Workers. Is Fashion Next?

While job losses aren’t happening at the same pace as in Silicon Valley, retailers facing slowing demand and rising operating costs are starting to make cuts.
Male passers-by and a detail of a fallen sheet describing the sale of menswear suits, in a closed clothing business in the City of London.
Facing slowing demand and rising costs of operation, retailers including Neiman Marcus, Everlane and The RealReal have all announced job cuts in recent months. (Getty Images)

Big Tech has already laid off globally over 100,000 employees this year, according to Layoffs.fyi, with Chinese media giant Tencent and buy-now-pay-later company Affirm among the latest to cut staff.

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