Tech Layoffs 2024: Unpacking the Crisis of 100,000 Job Cuts

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In 2024, the tech industry has faced a staggering 100,000 layoffs globally. This video delves deep into the factors driving this massive job reduction, including the surge in automation and the pursuit of operational efficiency. We'll explore how companies like Google and Microsoft are cutting costs at the expense of their workforce, and what this means for the future of tech employment. Join us as we analyze the implications for tech workers, local economies, and the global tech industry.

📊 Key Points Covered:

Overview of the 100,000 tech layoffs happening globally in 2024, including specific examples from major companies.
Insight into the role of automation and increased operational efficiency as primary drivers behind these layoffs.
Discussion on the economic and personal impact of these layoffs on tech employees and the broader community.
Strategies for tech workers to navigate this challenging job market, from enhancing skills to exploring entrepreneurial opportunities.
🚀 Why Watch?

Get a comprehensive understanding of the current state of tech layoffs and the factors contributing to them.
Learn about the effects of automation on job security and how tech companies are reshaping their workforce.
Find out how you can protect your career in an increasingly unstable job market.
💬 Join the Conversation:
Have you or someone you know been affected by the tech layoffs this year? What do you think are the long-term implications for the tech industry? Share your thoughts and experiences in the comments below!

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[VicDamoneJr]

these jobs were never real to begin with ... like that future CD " they never really liked you " or wanted you but they needed to make investors think the company was growing

[rodgertim]

My sympathy goes to anyone approaching retirement, you may have reasonable concerns over your pension and if it'll stretch to cover the rising cost of living, bad regulatory policies, bad energy and insane fiscal policies and all they see is their greed and emerald cities

[TornadoTwistarGaming]

The people that get the biggest bonuses do not care about what happens to the people beneath them...

[Doors]

Rich people: lets layoff computer nerds with antisocial personalities and see what happens

[warclan]

I m in IT. And met one engineer who told me he would be laid off at Hilton corporate. He went to become a plumber. Yeah he is now making the salary of an Engineer. But with a trade.

[d.o.nmuzic]

Greed.
But it’s not just the CEO’s… it’s the shareholders too

[chriscary]

Not layoffs, there job elimination, these jobs are gone forever.

[Zuranthus]

CEO: "but but but, but i like firing people"

[MapleJokerRofl]

im not fking tipping 30% for a barista to put a piece of brownie in the microwave for 10 seconds gtfo.

[karamzing]

It's actually worse than executives playing a game. US stock market is owned around 37% by retirement funds. That means that if the companies stop trying to increase profitability, stonks stop going up and people's retirement plans get screwed because the expected average annual growth is no longer there.

[jeffreycheng]

"The Federal Reserve System is not Federal; it has no reserves, and is not even a system at all. But rather an international criminal syndicate."- Eustace Mullins.

[djrickyb]

I wonder how many of these people recently laid off in the Tech field will end up working in a Logistics or Distribution warehouse like Amazon or another company after giving up trying to find another tech job.

[Kittana]

There were many of us lowly tech employees who got measly 2 weeks severance. Totally based on greed.

[Ricocase]

Code already built. Too many 'coders' just maintain it. Cutting people shouldn't save a stock - not authentic growth. Who's gonna buy their stuff as they layoff/fire consumers? Employ and pay them like H Ford.

[BlackHoleOfTime]

Streamline Operations (Cut all waste and extra out of the process, I.E. Remove people and jobs)
Cut Unnecessary Expenses (Find ways to remove jobs, like use AI instead of a secretary and programmer, and and and)

[colemanjr]

You are spot on about the greed and profit, just how much money a company needs. Also, I think about Monopoly instead of chess. The money becomes like a Monopoly game

[Alex_Plante]

People used to tell the unemployed "learn to code". Now it's "learn plumbing", or carpentry, or welding...

[etdp.]

Is there a website where we can take a look at stats about the distribution of the specific positions laid off?, please?

[pictureworksdenver]

And the point is? 100K layoffs globally in 6 months is negligible. Not even worth mentioning.

[andrewmunczenski]

I just left a job. The company I had worked for couldn’t understand why. I do contract work.