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Despite Booming Economy And Record Profits Google, Amazon, Microsoft And More Lay Off Over 42,000 So Far In 2024 (finance.yahoo.com)

submitted 8 months ago by [email protected] to c/[email protected]

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Despite Booming Economy And Record Profits Google, Amazon, Microsoft And More Lay Off Over 42,000 So Far In 2024::Despite a booming U.S. economy and significant advancements in the tech sector, including a robust performance by companies like Nvidia Corp. and a thriving artificial intelligence (AI) industry, tech companies have continued to lay off workers at an alarming rate in 2024. The tech-heavy Nasdaq index has shown an impressive uptick and the U.S. economy added 353,000 jobs in January, outpacing economists’ forecasts. However, this overall economic strength masks a wave of layoffs in the tech sector

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[–] [email protected] 1 points 8 months ago (1 children)

What do you mean over hiring during Covid cause I remember them laying people off at least in my country

[–] [email protected] 5 points 8 months ago* (last edited 8 months ago)

All those companies still have more employees than they did before the pandemic: https://steve-taplin.medium.com/big-tech-employee-numbers-before-and-after-the-pandemic-tells-the-real-story-bc67779c3cc8

So including the recent firings they are more on a headcount level of 2021 or so.