From Fortune Magazine:

In a move reminiscent of 2023, several tech companies are announcing significant job cuts. Companies affected include Amazon, Google, Twitch, and Unity Software Inc. while Meta Platforms, Salesforce Inc., among others. Workers in these industries are particularly worried about the rise of AI, which could make their jobs obsolete.

Many on Wall Street are expecting a wave of mergers to follow a sleepy 2023. Historically, large acquisitions result in workforce redundancies. Data show the tech job market is stabilizing, with the number of tech employees laid off steadily decreasing since the first quarter of 2023. However, companies remain cautious about hiring and profit-focused even in light of the stabilized job market.



Read more: Tech world’s hopes for 2024 dashed with early wave of layoffs at Amazon, Google and Unity