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Probably not until IRC 174 is fixed. You can't write your employees off on taxes anymore, but have to amortize them over four years.

https://www.stambaughness.com/blog/amortize-research-and-dev...

Lovely new little wrench in everyone's plans.

Plus many companies hired going into Covid, thinking online was the "new normal". They're returning to a healthier headcount now.

Plus they probably let go those underperforming certain metrics or backing unproductive initiatives. Though that should have no bearing on hiring, it will.

Plus it's no longer ZIRP.

That's a lot of hiring headwind.



Multiple references to R&D at the end suggests to me they’re pointing to 174 as a factor.




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