It's class war. The hedge funds see workers purely as a cost. They ignore the value workers create. This class war has been going on since Reagan and even before that (oil crisis early 70s).
It's just only now spread to tech workers.
See the chart here:
www.epi.org/productivity
Especially tech workers in the US were incredibly cocky not realizing they are the working class too. It was inevitable that we will all get hit because of that attitude.
