Jobs in America’s technology industry are no longer immune to layoffs and economic turmoil. More than 260,000 disappeared in 2023, and so far 2024 is not looking so good.
Last year was the worst 12 months in Silicon Valley since the early 2000s saw the crash of the dot-com industry, according to NPR. Tech executives cite a hiring binge during the COVID-19 pandemic, weak consumer demand and high inflation.
However, as 2024 began, inflation was half what Americans saw a year ago and consumers were regaining confidence in spending money. Workforces in tech have pretty much returned to pre-pandemic levels, yet nearly 100 tech companies let approximately 25,000 employees go in January 2024. The tech sector in America is tracked by layoffs.fyi, which said Meta (Facebook), Google, Microsoft, TikTok, Salesforce and Amazon are responsible for the layoffs.
More layoffs are planned, as reported by Reuters. Amazon plans several hundred layoffs for its streaming and studio operations. In early February, Amazon Healthcare Services executive Neil Lindsay sent a letter to employees notifying them that a few hundred jobs in One Medical and Amazon Pharmacy will be eliminated.
Google’s hardware team for Pixel, Nest and Fitbit were set for a round of layoffs in the hundreds in mid-January.
Even DocuSign planned early in February to reduce its workforce by 6 percent, which is 400 employees in sales and marketing.
SNAP planned to cut approximately 528 jobs or 10 percent of its global workforce this month.
While IBM has layoff plans, the company will hire for AI-centered roles and probably finish 2024 with a similar workforce count.
Aurora Innovation, an autonomous vehicle tech company, cut 3 percent of its workforce in January as part of reorganization.
Plans at eBay included cutting approximately 1,000, or 9 percent, of its workforce.
Other industries are also feeling pressure to reduce workforce. The Los Angeles Times planned to lay off 94 unionized journalists. Business Insider announced plans in late January to lay off 8 percent of company staff.
Walt Disney’s Pixar Animation Studio was set in January to cut jobs after production ended on some shows.
Unity Software creates videogame software and plans to lay off approximately 25 percent of its workforce or approximately 1,800 jobs.
Share
Rebecca Barnabi
