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Tech companies bleeding employees

Olivia

Olivia

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Source: https://www.thestreet.com/technology/tech-news-now-elon-musk-neuralink-nvidia-chipmaker


It's only mid-February, but tech companies have already cut 34,000 jobs this year, including big names like Microsoft, Snap, eBay, and PayPal. While a range of reasons have been given for the workforce reductions, analysts believe the changes signal some companies taking stock of their spending and making room to invest further into AI.

“The lay-offs are going to continue and it may get worse. It’s become contagious,” Jefferies analyst Brent Thill said.

2023 saw a whopping 263,000 jobs cut across the tech sector, per data from Layoffs.fyi.
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Thoughts?
 
That's corporations over in America for you. Buy low, sale high. Fire good hard working people so they don't have to pay them.
 

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