An updated list of 2024 tech layoffs: IBM, Sony, and more:
Technology firms are shedding employees for AI investments and other reasons, with 46 ...
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Tech Industry Faces Major Workforce Cuts in 2024By late February, 46,000 jobs were cut worldwide as companies shift focus to AI and operational efficiency.
- Since January, prominent tech firms including Apple, Amazon, and Sony have eliminated thousands of positions.
- These reductions are largely driven by a strategic pivot toward generative AI and shedding underperforming units.
- Experts highlight that rapid technological change typically results in workforce restructuring and leaner staffing needs.
- Job losses have spurred new business startups and increased demand for tech talent in sectors beyond traditional tech.
With any kind of rapid, technological, or other change, there’s always a shakeout.— Erica Groshen, a senior economics advisor at the Cornell University School of Industrial and Labor Relations, explains the impact of technological shifts on the job market.
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