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So far this year, there have been 837 tech companies conducting layoffs (with a total of 216,328 jobs lost), per layoffs.fyi. In April, Dropbox also said it was laying off 16% of its workforce ...
The tech sector has kicked off the new year with a spate of fresh job cuts that are coming at the same time as the industry is doubling down on investments into artificial intelligence.
Fagan said that while some tech workers are drawn to the flexibility that contingent or part-time roles can offer, tech has historically been the No. 1 industry tech workers want to work in.
“Recent financial news features two stories: layoffs and record profits. These are related.” A spate of tech companies have conducted layoffs in recent months.
In 2024, the tech industry witnessed a significant increase in layoffs, with companies like Google, Amazon, Meta, and Cisco announcing job cuts. While AI is a contributing factor, economic downturns and cost-cutting measures often influence such decisions. Automation's role in the IT industry has been a topic of discussion.
Some 212,294 workers in the tech industry have been laid off in 2023 alone, according to data tracked by Layoffs.fyi, already surpassing the 164,709 recorded in 2022.
The video game industry layoffs are a part of the broader tech industry layoffs that began in 2023; [17] many such layoffs have been attributed to artificial intelligence, [18] although increased interest rates, reduced demand from consumers and excessive hiring during the COVID-19 pandemic have also been cited as causes. [17]
She also added, "The gaming industry should reflect the growing diversity of its demographics if it wants to succeed." [ 11 ] In November 2022, amid mass layoffs of over 11,000 employees, she took up the vacant position of Vice President of Meta India, which had been previously left vacant by Ajit Mohan .