2024 Tech Layoffs: A Wave of Job Cuts
The tech industry experienced a significant wave of layoffs in 2024, impacting over 150,000 employees across 542 companies. This trend continued the workforce reductions seen in 2022 and 2023, affecting both large corporations and smaller startups. Companies like Tesla, Amazon, Google, TikTok, Snap, and Microsoft conducted substantial layoffs, while numerous startups also faced cuts or even complete shutdowns.
Impact of Layoffs
These widespread layoffs raise concerns about the impact on innovation and the potential consequences of increased AI and automation adoption. The job losses also highlight the human cost of these business decisions. For more on AI's impact, see ChatGPT's 2024: AI's Rise, Triumphs, and Tribulations.
Monthly Breakdown of Layoffs
- January: 34,107 employees
- February: 15,639 employees
- March: 7,403 employees
- April: 22,423 employees
- May: 11,011 employees
- June: 10,083 employees
- July: 9,051 employees
- August: 26,024 employees
- September: 3,765 employees
- October: 3,659 employees
- November: 5,925 employees
- December: 2,268 employees
This data, tracked by Layoffs.fyi, reveals the ongoing challenges faced by the tech industry. For related financial news, see Apple Q1 2025 Earnings Announced and Fintech Hiring Remains Strong Despite Sector Challenges.