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Tech Layoffs 2024: 'Silent Layoffs' On The Rise After Over 95,000 Job Cuts This Year

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Tech Layoffs 2024: 'Silent Layoffs' On The Rise After Over 95,000 Job Cuts This Year

The tech industry layoffs continue in 2024, with over 95,000 employees already shown the door. This follows a brutal 2023 that saw a staggering 59% increase in layoffs compared to the previous year.

While giants like Amazon, Alphabet, Microsoft, and Meta made headlines with mass job cuts in 2022, the trend shows no signs of stopping.

Experts attribute this ongoing wave of layoffs to a confluence of factors. Economic downturns, combined with over-hiring during the pandemic boom, have forced companies to tighten their belts. Additionally, strategic restructuring is underway as firms streamline operations to remain financially healthy.