Essay Topic for academic class

We have seen and heard a massive number of workers being laid off in U.S. especially in tech sector. Microsoft has announced it is going to layoff 1,000 workers. Mata, 5000; Zoom, 15% of its employees, or 1,300 people; and more companies follow.
What is behind Tech layoffs? What are the underlying reasons for these layoffs, and Do you think they have an impact on Japanese economy too?