**: The content was compiled from Bloomberg by Semiconductor Industry Watch (ID: icbank), thank you.
In 2024, the tech industry has seen another wave of layoffs, which have expanded further after last year's widespread layoffs.
According to LayoffsAccording to the FYI, about 32,000 tech workers are out of work so far in 2024. The company has been tracking layoffs in the industry since the start of the pandemic.
snap inc.The latest example was announced on Monday that it would lay off about 10% of its workforce, or about 540 employees. Earlier this month, software company OKTA IncIndicated that it will lay off 7% of its workforce to reduce costs, affecting about 400 employees. The list goes on, including Amazoncom inc.、salesforce inc.and Meta Platforms Incand other large technology employers.
This year, "given that both the high interest rate environment and the tech downturn have lasted longer than initially anticipated, tech companies are still working to correct overhiring during the pandemic," LayoffsFYI founder Roger Lee wrote in a note.
Lee said there have been two major waves of layoffs in recent years. The "early COVID" surge from Q1 to Q2 2020 and the "rate hike" effect that has been ongoing since Q2 2022. "This year's layoffs are usually smaller and more targeted than last year's," Lee said.
While economic factors are the main reason for tech layoffs, Lee noted that many companies are citing AI competition as a factor because they are shifting resources to AI talent. According to an analysis by Comptia, which tracks employment trends in the tech industry, "from December to January, the number of positions in AI or requiring AI skills increased by about 2,000 to 17,479".
As a result, while the industry has cut some jobs, it is also actively hiring for others. According to Comptia, there were 33,727 active job postings in January, the largest month-on-month increase in 12 months.
Bert Bean, CEO of HR firm Insight Global, said: "I do feel like most of the layoffs have already happened and the company is going to start**. But this is still very uncertain. He expects the market to stay that way for the next two quarters or so, "until the Fed actually comes out and starts cutting rates." ”
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