this post was submitted on 01 Mar 2024
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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 L4s to c/technology
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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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[–] Gakomi 7 points 8 months ago* (last edited 8 months ago)

Maybe it's due to over hiring, maybe due to the fact that some those people had jobs that were replaced by AI bots, it does not really matter, right now the market is fucked and good luck finding a job if you were laid off.