Tech Layoffs 2024 : 154 Tech Companies have laid off 39,496 Workers
154
As of February 16, 154 tech companies have laid off 39,496 workers in 2024, continuing a trend from 2023 where 1,186 companies laid off 262,682 employees, surpassing the 2022 total of 164,969 layoffs. Notably, Amazon led 2023 layoffs with 27,410 job losses, followed by Meta (21,000), Google (12,115), and Microsoft (11,158). In Feb 2024, notable layoffs also include Getaround, Snap, and DocuSign, with Zoom also announcing a 2% reduction in its workforce.
25%
SHRM research shows 25% of employers use AI in HR, a figure that notably grew in the past year, especially among larger firms in the technology, finance, and information sectors. While 60% of HR professionals are hopeful about AI's effectiveness, 24% express concerns about job displacement. Reasons cited for not adopting AI include a lack of understanding its benefits and fears of losing the human touch.
29%
In recent years, the proportion of jobs on LinkedIn not necessitating a college degree rose to 29%, up from 20%, mirroring a surge in recognition for alternative skill pathways. Notably, around 70 million US workers are now deemed skilled through alternative routes, signaling a profound shift in hiring paradigms. Major corporations like Google and Walmart have embraced this trend, highlighting the increasing importance of skills over formal degrees in assessing workforce readiness.
9M
In 2024, the U.S. is experiencing a significant worker shortage, with 9 million job openings but only 6.1 million unemployed workers. This shortage is attributed to factors such as early retirements, reduced immigration, and pandemic support affecting workforce dynamics, with industries like leisure and hospitality experiencing a higher quit rate (4.3%) compared to others like financial activities (1.5%).
82000
In 2024, over 82,000 job cuts announced in January reflect a doubled figure from the previous month, as companies intensify cost-cutting amid inflationary pressures. Prominent firms like Nike, Mattel, PayPal, Cisco, Levi Strauss, and UPS also join the trend, implementing significant expense reduction strategies amidst evolving consumer demands.