2024 Tech Layoff Wave Wipes Out Half of the Industry's Staff
The tech layoff wave continued through 2024, with over 150,000 job cuts across 542 companies, according to independent layoffs tracker Layoffs.fyi. Large companies like Tesla, Amazon, Google, TikTok, Snap, and Microsoft conducted sizable layoffs in 2024, while smaller-sized startups also experienced cuts, and in some cases, shut down operations altogether. We’re continuing to track the industry’s layoffs into 2025 so you can see the trajectory of the cutbacks.
- This exodus of talent may accelerate the shift towards AI-driven automation, potentially upending traditional employment models within the tech sector.
- As the industry retools and adapts to these massive job losses, what implications will this have for innovation hubs in cities like San Francisco and New York, which rely heavily on a skilled workforce?