"The Rise of Tech Layoffs: Navigating Job Insecurity in 2024"
Originally Published 1 year ago — by TechSpot
Tech layoffs have become increasingly common, with 209 tech companies laying off over 50,000 employees since the start of the year. Major firms like Alphabet, Amazon, and Microsoft have downsized their staff, contributing to a total of 269,180 job cuts in the tech industry last year. The job market for tech workers has become highly competitive, with stagnant salary increases and workers being forced to compromise on stability, work environment, and pay. Despite strong profitability and cash reserves, companies are prioritizing stock prices, leading experts to believe that tech layoffs have become the new normal.