In the first month of 2024, the tech industry witnessed a significant wave of job cuts, totaling 32,000 according to Layoffs.fyi.
Snap's announcement of a 10% reduction in its workforce, affecting approximately 540 employees, is emblematic of this trend. Other notable layoffs include Okta's elimination of 7% of its staff, impacting around 400 workers. The list goes on, including Big Tech employers like Amazon.com Inc., Salesforce Inc. and Meta Platforms Inc.
According to an analysis by CompTIA, which tracks employment trends in the tech industry, job postings in "artificial intelligence or requiring AI skill increased by about 2,000 from December to January, to 17,479."