Posted on 01/12/2024 1:43:07 PM PST by SeekAndFind
Hi everyone, senior tech reporter Kylie Robison here. I don’t want to say the L-word first, but it’s starting to look like some feelings are changing.
Layoffs, not love, are in the air again. Google slashed hundreds of jobs today, while Instagram cut several dozen of its own on Wednesday Also this week, Amazon’s Twitch and Prime Video divisions announced hundreds of layoffs each, or a 35% reduction in staff, and AI startup Humane, which raised over $200 million and plans to ship its new wearable in the coming months, just cut 4% of its employees. Adding to the bloodshed, video game software provider Unity Software plans to cut 1,800 jobs, or 25% of its staff.
It’s an unfortunate turn, but predictable. Spotify, Coinbase, Amazon, Salesforce, and more cut thousands of jobs last January after pandemic hiring frenzies led to bloated workforces. The new year means more scrutiny on budgets, and annual belt-tightening is already kicking off in a big way. One expert told CNBC that we’re in for a “bumpy landing,” but expects markets to bounce back later this year.
Layoffs.fyi, a website that dutifully tracks job cutting, shows that 263,000 tech employees were cut in 2023 alone. Only 11 days into 2024, there have been 24 tech companies that have laid off a total of 3,331 employees. It’s not all doom, though. X, GitHub, and Vercel are hiring, and when OpenAI risked losing all its staff after the surprise and ultimately temporary ouster of its CEO, swaths of companies like Salesforce, Microsoft, Nvidia, and Meta attempted to scoop up the valuable talent.
(Excerpt) Read more at msn.com ...
That’s ok because Nancy Pelosi said that Unemployment Stimulates the Economy...
The 2024 numbers are way higher.
IBM probably got rid of 10k and replaced them w Indian workers.
Carly Fiorna 2
You know who will be exempted from layoffs? Cheap Indian labor on work visas.
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