At the onset of 2024, several leading technology and media companies in the United States have announced plans for significant layoffs, signaling a possible continuation of the string of job cuts witnessed in 2023, particularly amidst ongoing economic uncertainty.
Amazon:
On January 9, 2024, Twitch, a streaming unit of Amazon, announced plans to lay off approximately 35% or around 500 of its employees.
On January 11, Amazon revealed intentions to dismiss hundreds of employees in its streaming operations and studios, extending the layoff period into 2024.
Also on January 11, Amazon's audiobook and podcast division, Audible, announced layoffs affecting 5% of its workforce.
On January 18, the Buy with Prime unit was reported to have laid off less than 5% of its employees.
Alphabet:
On January 11, 2024, Google (a subsidiary of Alphabet) laid off hundreds of employees across various teams, including hardware and augmented reality.
On January 16, Google implemented layoffs affecting hundreds of employees in its advertising sales team.
On January 22, Alphabet's X Lab division terminated dozens of employees and sought external funding from investors.
Other Companies:
Salesforce (January 26): The cloud-based software company announced plans to lay off around 700 employees, roughly 1% of its global workforce.
Microsoft (January 25): It was reported that Microsoft would lay off 1,900 workers at Activision Blizzard and Xbox.
Paramount Global (January 25): The film company planned layoffs aimed at streamlining the organization.
Business Insider (January 25): Business Insider's CEO announced plans to lay off about 8% of its total workforce.
IBM Corp (January 24): The computer manufacturer plans to lay off some employees in 2024 while also hiring more for roles focused on artificial intelligence (AI).
Aurora Innovation (January 24): The autonomous vehicle technology company announced layoffs affecting approximately 3% of its total workforce as part of a reorganization.
Brief Overview:
This wave of layoffs reflects the economic challenges faced by technology and media companies and may also impact the labor sector in the US. These decisions are often linked to business restructuring, strategy adjustments, and adaptation to evolving market dynamics. Jobs in these industries are becoming increasingly competitive, and employees are expected to continuously enhance their skills and flexibility amidst rapid changes.