More than 28,000 people will lose their jobs due to layoffs at Amazon.com, Meta and Twitter. The economic effects will be felt in the communities where laid-off workers live but are not an indicator that a recession is coming. “If people lose their jobs, they spend less money in the area they live. But I think the sort of direct knock-on effect is much smaller than your traditional mass layoffs, in say manufacturing,” said Jason Furman, an economics professor at Harvard University.