It seems to be mainly tech companies firing people right now. How this happened:

1. Tech companies get lots of money (especially over the pandemic) and hire lots of people, with more attractive benefits than other companies can afford.
2. Market conditions change, there is less money floating around to invest in tech companies.
3. Tech companies are making less money and getting less investment.
4. Tech companies need to cut expenses (the largest expense for these companies is usually staff.
5. Other companies still need staff and are still hiring.