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00:00Even after all of the recent layoffs that you've seen for many of the large tech companies, we still see tech is relatively bloated in terms of if you look at how much it's, you know, employment counts have grown relative to its real sales growth over the past several years. Even after you adjust for the recent layoffs for every large, big tech company that's having layoffs, there are many small organizations who are eager to gobble those employees up. So I wouldn't say that there's a dearth right now. What we're seeing, however, is CEOs taking advantage of fear in the headlines. I think that these layoffs put these companies in a position where it's more difficult for them to show a better than expected sales and profits, because if they had better than expected sales and profits, why are they cutting headcount so significantly? You're at the place where layoffs are the most likely catalyst to give fed confidence. Inflation will get back to 2 percent. So I expect sort of towards Q2 Q3. You'll see the margin improvements and bottom line improvements on earnings that result from the layoffs and the cost cutting. But we're not going to see it just yet. So I think we'll trickle in in the coming months.

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MLIV Pulse: Are Tech Layoffs Too Big or Too Small?

During this week's MLIV Pulse survey, Bloomberg TV guests respond to the question: Are tech layoffs too big or too small? (Source: Bloomberg)