"Tech Giants' Stealthy Layoffs: Unveiling the Economics of Job Cuts"
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.