All articles tagged with #tech layoffs
Originally Published 2 months ago — by Futurism
The tech industry in 2025 is experiencing its highest layoffs since 2003, with over 33,000 jobs lost in October alone, driven by factors like AI adoption, economic correction after pandemic hiring booms, and rising costs, leading to a challenging job market for tech workers.
Originally Published 3 months ago — by Fortune
Former Trump economic adviser Gary Cohn attributes rising tariffs to increased business costs, leading companies to cut labor costs and contributing to a weakening job market, especially affecting recent graduates and younger workers, despite strong corporate profits and ongoing investment.
Originally Published 4 months ago — by Benzinga
Keith Rabois, returning as chairman of Opendoor, announced plans to drastically cut the company's workforce from 1,400 to around 200 employees, citing overstaffing and a need to realign with operational goals. He also criticized the company's remote work policies and diversity initiatives, vowing to shift focus back to merit and excellence. The company has recently seen a surge in stock price but faces internal restructuring amidst broader tech industry layoffs.
Originally Published 4 months ago — by Fortune
The US created nearly one million fewer jobs in the past year than previously reported, with significant declines in the tech sector attributed to AI-driven automation, indicating a weaker economic momentum and reshaping of the job market.
Originally Published 4 months ago — by Hacker News
The article discusses the complex and somewhat contradictory evidence suggesting AI, particularly large language models, is contributing to job losses among young people and software engineers, with factors like interest rate hikes, tax law changes, offshoring, and corporate strategies also playing significant roles. It highlights the difficulty in isolating AI's specific impact due to overlapping economic and policy influences, and notes a recent uptick in job market activity possibly indicating a recovery.
Originally Published 5 months ago — by Futurism
Recent computer science graduates are facing unprecedented challenges in the job market due to widespread layoffs and the rise of AI coding tools, leading many to accept jobs outside their field, such as fast food positions, amid high unemployment rates and bleak prospects for tech careers.
Originally Published 5 months ago — by theregister.com
The US IT job market has worsened after significant downward revisions to May and June employment data by the BLS, revealing a deeper sector slowdown with 26,500 jobs lost year-to-date in 2025. Despite some demand in AI-related roles, overall employment in tech is declining amid economic uncertainty and layoffs, with unemployment rates higher than the national average.
Originally Published 7 months ago — by Investopedia
Google and other Big Tech companies are offering buyouts and planning layoffs amid economic uncertainty and heavy investments in AI infrastructure, with sector-wide job cuts reaching nearly 75,000 in 2025, reflecting broader industry struggles and strategic shifts.
Originally Published 7 months ago — by futurism.com
A 2017 change to a 70-year-old tax law, enacted during Trump's presidency, forced tech companies to amortize R&D expenses over several years instead of deducting them immediately, likely contributing to over 500,000 tech layoffs since 2023. Despite bipartisan efforts to reverse this rule, the damage has already been done, highlighting a hidden factor behind recent tech industry layoffs.
Originally Published 7 months ago — by CNBC
Citigroup plans to cut around 3,500 tech jobs in China as part of a broader global cost-cutting and restructuring effort, reflecting challenges faced by international banks amid economic slowdown and geopolitical tensions in China.
Originally Published 1 year ago — by CNBC
Stocks are starting the week on a shaky note as investors worry about the Federal Reserve's upcoming policy meeting and potential interest rate decisions, while Congress races to avoid a government shutdown. Russian President Vladimir Putin secured another term in an election criticized by Western leaders, and Novo Nordisk's weight loss drug faces limited insurance coverage despite its approval for heart health benefits. Additionally, the tech sector is experiencing significant layoffs, leaving former employees facing a tough job market with potentially lower-paying roles.
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.
Originally Published 1 year ago — by CNBC
The tech industry has seen a surge in layoffs, with over 50,000 workers laid off from 200 companies since the start of the year, making 2023 the second-biggest year of cuts on record. Formerly highly valued skills in software development and data science are now facing a competitive job market with lower pay and demanding qualifications. The situation has led some to consider leaving the industry altogether, while others have accepted pay cuts to secure new roles. The job market for AI engineers, however, is booming, with salaries rising and rapid hiring and expansion in the field.
Originally Published 1 year ago — by NBC News
Tech industry workers are grappling with the loss of job security as layoffs continue, with over 34,000 recorded in January. Many are turning to therapy and support groups, while some are starting their own ventures or transitioning to new industries. Layoffs have affected both technical and non-technical roles, prompting career shifts and entrepreneurial pursuits. The industry's average annual salary has dipped, and large tech employers like Google and Meta have implemented significant job cuts, leading to a shift in the job market for tech workers.
Originally Published 1 year ago — by Yahoo Finance
Despite a strong U.S. economy and tech sector growth, over 42,000 tech employees have been laid off in 2024, averaging more than 780 layoffs daily. Major companies like Google, Amazon, Microsoft, and others have announced significant layoffs, reflecting a strategic shift towards efficiency and profitability, driven by the rapid rise of AI, stock market pressures, and post-pandemic operational needs. This trend has led to job insecurity and a reevaluation of career paths in the tech industry, challenging the narrative of tech as a stable and lucrative career choice.