The tech industry has experienced a significant number of layoffs in 2024, with Austin being notably affected. According to reports, around 186 tech companies have cut over 49,386 jobs this year. This trend follows the Great Resignation and has been highlighted as the largest number of job cuts announced in January since January 2009, excluding January 2023. Despite this, the pace of layoffs in 2024 is reported to be slower than in 2023. Specifically, 5,957 job cuts have been reported this month, with over 15,000 layoffs occurring in February alone. Companies like SAP and Cisco have been identified as part of this firing spree.
Tech layoffs surpass 15,000 in February 2024: Why SAP, Cisco, others are on firing-spree #TechKayoff https://t.co/UNyPKE9Ely
5,957 job cuts this month, so far #MacroEdge https://t.co/c4mkgcv2vs
Bay Area layoffs widen — but pace of tech job cuts in 2024 is below 2023’s https://t.co/8CphEkEuNB
Excluding January 2023, the January layoffs this year represent the highest number of job cuts announced in the first month of the year since January 2009, according to Challenger, Gray & Christmas. And yet we anticipate another record breaking jobs report.
The steady stream of layoffs following the Great Resignation has spilled into 2024 with about 186 tech companies cutting over 49,386 jobs this year, according to a study. https://t.co/jQaT08dX8G
The steady stream of layoffs following the Great Resignation has spilled into 2024 with about 186 tech companies cutting over 49,386 jobs this year, according to https://t.co/hi7Zb9zjf3. https://t.co/VndgnXzxya
Hundreds of layoffs have already struck Austin's tech industry in 2024 https://t.co/vNR7Fs4R06