"2024 Tech Layoffs: Impact and Implications for the Industry"

Tech companies have initiated a wave of job cuts in 2024, with 46 companies laying off approximately 7,500 employees in the first two weeks of the year. Notable layoffs include Google, Amazon, Discord, and Apple. Additionally, finance companies like Citigroup and BlackRock are also planning significant workforce reductions. Despite the layoffs, experts suggest that these job cuts are different from previous years, reflecting healthy companies adjusting their priorities rather than sweeping cost-cutting measures. The overall hiring across the US economy remains strong, with the unemployment rate declining to 3.7% in December.