Big Tech companies such as Snap, Meta, Alphabet, Microsoft, and Alibaba have been experiencing mass layoffs, with over 32,000 tech workers losing their jobs in 2024. Economic factors and the race for AI are cited as reasons for the layoffs. Prediction markets indicate a high likelihood of layoffs in major tech companies. Despite the layoffs, Big Tech continues to thrive, raising questions about the disconnect between the industry's success and the job cuts.
"Quiet Layoffs" are the new "Quiet Quitting", I told CNN. Tech giants are demanding employees return to office or resign... in hopes many will voluntarily quit to reduce severance payoffs and bad PR. AI is another big driver of mass layoffs Tech giants are retooling to bring… https://t.co/LI0QjWg8Fx
"Quiet Layoffs" are the new "Quiet Quitting", I told CNN. Tech giants are demanding employees return to office or resign... in hopes many will voluntarily quit to reduce severance payoffs and bad PR. AI is another big driver of mass layoffs Tech giants are retooling to bring in… https://t.co/TGGlzS7Ton
#AlibabaGroup cuts its staff by roughly 20,000 over the course of 2023, adding to a spate of layoffs spanning global tech companies from Silicon Valley to Hangzhou. https://t.co/BKFOSh0V0K
📬 Mass layoff announcements arrived this week from @DocuSign, @Snap, and @Drizly! We'll take you through the details here: https://t.co/AJYyJ303e0 #techlayoffs #restructure #futureofwork #techtrends2024
Tech companies slash more than 3,900 Bay Area jobs in 2024 as layoffs widen https://t.co/4QFTkBwcol
Alibaba cut ~20K staff during 2023, ending December with 219,260 employees, after cutting roughly the same number in 2022, and bought $9.5B of its stock in 2023 (@vladsavov / Bloomberg) https://t.co/HDOGTcP739 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/B6x9yrgfmQ
Alibaba Reduced Headcount by a Further 20,000 in 2023
Alibaba cut its staff by roughly 20,000 over the course of 2023, adding to a spate of layoffs spanning global tech companies https://t.co/mV7fzDWf7u
Layoffs show how tech is joining the regular economy https://t.co/k2ocKFMkWl
Tech layoffs are way down from last year. Why does it feel so grim? https://t.co/1Ic1Fa6PPj
Snap’s excuses don’t add up as Meta and Google continue to thrive https://t.co/AD1t816Jmf
Layoffs have been ramping up in 2024 and all eyes are on big tech: Prediction markets are forecasting it’s not getting any better. All of the Magnificent 7 companies other than Nvidia have over a 50% chance of layoffs, according to @Kalshi layoff markets. Alphabet currently… https://t.co/DRdBm1AEKE
Why are Google, Amazon and other big tech companies cutting jobs https://t.co/J8ynu6zRMg
So far, some 32,000 tech workers have lost their jobs this year. Although economic factors are the main reason for tech layoffs, an expert notes that many companies are citing the race for AI as a factor. https://t.co/VWv9BboFwv
Big Tech is thriving, but you wouldn’t know it from the mass layoffs at Snap, Meta, Alphabet and Microsoft https://t.co/s53lo3IvMO via @opinion
Tech Layoffs Continue to Roil Industry With 32,000 Jobs Cut https://t.co/qkgU364WZX
Tech Layoffs Continue To Roil Industry With 32,000 Jobs Cut https://t.co/qkgU364WZX
Big Tech is thriving, but you wouldn’t know it from the mass layoffs at Snap, Meta, Alphabet and Microsoft https://t.co/QxiY8788Vt