Tech Layoffs Decline Significantly in 2024: A Beacon of Stability for the Sector?
In an uplifting trend for tech workers, layoffs in the tech sector have dropped by 42% in 2024 compared to 2023. While a total of 152,000 workers were laid off from 549 companies, this marks a stark contrast to the 264,000 layoffs from 1,193 companies the previous year. This decline reflects improved industry conditions and a strategic shift in workforce management. However, not all is smooth sailing as Meta announces new layoffs affecting 5% of its workforce while discontinuing its DEI and fact-checking programs in the US. Is this a sign of stability or just a momentary blip?
Jan 17