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Tech Layoffs on the Rise in 2024
Big tech companies are making changes, and some workers are losing their jobs. This year, almost 50,000 tech employees have been laid off from over 200 companies.
Tech Industry Hit with Job Cuts
The first quarter of 2024 has witnessed many job cuts within the technology sector. According to Layoffs. fyi, a website tracking industry layoffs, nearly 50,000 employees have been let go across 204 tech companies. These reductions come despite a relatively stable national unemployment rate and even job growth within the information sector.
The reasons for the layoffs are multifaceted. Companies may be aiming to reduce expenses, restructure their operations, or adapt their strategies in response to evolving economic and business landscapes. In some unfortunate cases, complete company closures have impacted hundreds of employees.
The human impact of these layoffs is undeniable. While the tech industry generally offers promising employment opportunities, these job cuts can be devastating for affected individuals. Even positive industry trends provide little comfort to those who have lost their jobs.
This news article highlights just a portion of the tech industry layoffs. CRN, focusing on business-to-business technology, excludes job cuts at consumer-oriented tech companies.
