"Tech Layoffs Surge Despite Record High Share Prices in 2024"

Major tech companies are laying off thousands of employees despite reaching all-time high stock prices and a strong US economy, raising concerns about the impact of AI on the job market. The layoffs are seen as part of a widespread pivot towards AI, with companies like Google, Meta, and Amazon investing heavily in AI technologies. While some layoffs may be attributed to normal business adjustments, the trend suggests a significant shift in business decision-making towards AI, potentially leading to fewer jobs in the tech industry. This raises questions about the broader impact of AI on employment across various sectors.