Goldman: US job market is rapidly cooling off…

Layoff announcements have risen notably in the tech sector, as companies have come under pressure amid heightened stock market volatility and rising interest rates.

E-commerce site Stitch Fix (SFIX) said Thursday it will axe 15% of its corporate workforce as it deals with a slowdown in sales and increased losses. Electric scooter player Bird (BRDS) announced this week it would layoff 23% of its workforce as it clamps down on expenses.

Netflix (NFLX) and Robinhood (HOOD) have also cut jobs after lackluster first quarters, while Coinbase (COIN) has frozen new hiring and even rescinded some already-accepted job offers.