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Technology layoffs in 2024: More than 34,000 employees at Google, Amazon, and 100+ other tech companies will lose their jobs this year |

Technology layoffs in 2024: More than 34,000 employees at Google, Amazon, and 100+ other tech companies will lose their jobs this year |

 



The technology industry continues to experience a wave of layoffs as 2024 begins. According to Layoffs.fyi, which tracks technology layoffs, over 34,000 employees have already been cut in the first few weeks of 2024 at major companies like Google and Amazon, as well as more than 100 other tech companies. I'm losing my job. This highlights the continuing economic challenges facing the once impenetrable technology industry. Last year, giant companies like Meta, Twitter, and Cisco slashed their workforces. More names appear to be being added to the list of technology companies making significant layoffs. Unless market conditions improve, the employment crisis could last until 2024. Alphabet Inc.'s Google laid off hundreds of employees earlier this year across departments including engineering, AI research, hardware and product development. Additionally, Google's ad sales team has experienced significant layoffs as the company continues its “organizational changes” heading into his 2024 year. CEO Sundar Pichai said the job cuts would impact more roles aimed at improving efficiency. Microsoft also made a significant contribution to its technology workforce, cutting 1,900 jobs, mostly in its own divisions. Video game division after acquisition of Activision Blizzard. This represents almost 8% of Microsoft's entire gaming division. Management positions were also affected, with Blizzard's president and chief design officer resigning. Other major game companies, including Unity and Riot Games, have made similar moves, cutting staff by 25% and 11%, respectively. As these companies focus resources on their core services, Amazon's layoffs span many business units, including the Audible, Prime Video, Twitch, and Buy with Prime teams. Audible cut its workforce by 5%, citing “difficult conditions,” while Twitch cut its workforce by 35%, or about 500 people, in a restructuring. The e-commerce giant last week cut jobs in its healthcare division, eliminating “several hundred” positions. Retail and food delivery giants eBay, Flipkart and Swiggy also made some job cuts, but the cuts were more modest. Less than 10%. There are a variety of reasons for these layoffs, including reprioritization and cost-cutting, but the main motivation appears to be to curb pandemic-era overstaffing and prepare for a potential economic downturn. Meat delivery company Licious laid off 80 employees (3% of its workforce) earlier this month in an “operational reset” to refocus on growth. The company has 528 employees, approximately 10% of its global workforce. The purpose of Snap's restructuring is to focus on executing its top priorities and make incremental investments to support future growth. Grammarly and DocuSign recently announced staff cuts to improve efficiency. Grammarly has cut 23% of its workforce, or about 230 people, as it focuses on an AI-enabled workplace. DocuSign has laid off approximately 440 people, or 6% of its workforce, to improve financial and operational efficiency. Experts believe many companies overhired during the extraordinary surge of the coronavirus pandemic and are now right-sizing bloated teams. The continuing wave of layoffs in the tech industry reflects a necessary rebalancing, not decline. However, key emerging areas such as artificial intelligence continue to drive hiring activity even as layoffs occur elsewhere. Big technology companies such as Google and Microsoft are aggressively expanding their businesses in the areas of AI, machine learning, and data science. These companies are realigning resources and seeking trained professionals to fill key roles in generative AI, neural networks, and robotics. Despite economic uncertainty overall, demand for these skills remains extremely high, with over 33,000 AI-related job openings in January 2023 alone. It prompted other cuts. For professionals skilled in the technologies that will shape the future, new opportunities await as organizations compete to lead the AI ​​revolution. While layoffs have made headlines, the technology sector continues to transform and grow by investing in qualified talent.

Sources

1/ https://Google.com/

2/ https://timesofindia.indiatimes.com/gadgets-news/tech-layoffs-in-2024-over-34000-employees-at-google-amazon-and-more-than-other-100-tech-companies-have-lost-jobs-this-year/articleshow/107629958.cms

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