The pendulum of power that swung toward skilled employees in recent years is quickly swinging back toward the tech companies they work for. Earlier this month, Facebook and Instagram's parent company, Meta Platforms, cut 11,000 jobs, and it's not the only tech business with heaps of exiting workers. Twitter cut 3,700 jobs or around half its workforce.

Tech industry layoffs aren't limited to social media businesses, either. Coinbase, a cryptocurrency exchange; Shopify, an e-commerce company; and Stripe, a payments processor; all said this year that they would reduce staff by 10% or more.

While the tech industry is getting hit from all sides, there's one tiny cloud service provider that isn't losing any ground. DigitalOcean (NYSE: DOCN) is a cloud service provider for individuals and small to medium-sized businesses. It hasn't announced any layoffs because its business is likely to see increasing demand in the weeks ahead.

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Source Fool.com