Tech Layoffs 2024: Experts Suggest That Widespread Layoffs May Have Cascading Effect on Economy Leading to Slower Recovery Following Post-Pandemic Downturn, Says Report
In 2024, many tech companies initiated layoffs leading thousands of people lose their jobs. According to a report, experts said that these widespread job cuts could have cascading effect on the economy. Here's are the reasons why the tech layoffs were initiated and whether they will continue in the future.
Mumbai, May 12:슬롯 머신 사이트 추천Tech layoffs in 2024 have affected슬롯 머신 사이트 추천thousands of employees, multiple job roles and leading to department shutdowns. Many tech giants have reduced employee headcounts due to restructuring, cost-cutting or slow sales.슬롯 머신 사이트 추천Despite a wave of tech layoffs,슬롯 머신 사이트 추천a report슬롯 머신 사이트 추천said the tech industry had been unabated. However, the rising threat of layoffs슬롯 머신 사이트 추천reportedly슬롯 머신 사이트 추천signalled a슬롯 머신 사이트 추천change in the economic landscape. According to a report, the tech industry might see more than 2,000 layoffs in countries including India.슬롯 머신 사이트 추천
In 2024, we have seen layoffs initiated by tech giants like Google, Meta, Amazon, Paytm, BYJU's and most recently Tesla layoffs which affected thousands of global employees. All of these슬롯 머신 사이트 추천workforce reduction decisions were attributed to factors such as슬롯 머신 사이트 추천consumer demand shifts, economic downturn, restructuring plans, cost-cutting,슬롯 머신 사이트 추천automation or adoption of AI and technological changes. According to a슬롯 머신 사이트 추천슬롯 머신 사이트 추천by슬롯 머신 사이트 추천Indian Express, the슬롯 머신 사이트 추천job cuts initiated by the슬롯 머신 사이트 추천tech companies슬롯 머신 사이트 추천could likely have long-lasting effects.슬롯 머신 사이트 추천Simpl Layoffs: Fintech Startup Lays Off Around 100 Employees in Restructuring Exercise, Affected Will Receive Severance Pay of Two Months; Check Details.슬롯 머신 사이트 추천
According to the report, sectors other than tech, such as healthcare and finance, were also affected by the layoffs. The report슬롯 머신 사이트 추천highlighted an example of a vacation rental company called슬롯 머신 사이트 추천Vacasa슬롯 머신 사이트 추천located in Oregon, US, that cut슬롯 머신 사이트 추천13% of its workforce, about 800슬롯 머신 사이트 추천people, amid슬롯 머신 사이트 추천reorganising its operations. In San Diego, a health-tech company called Cue Health슬롯 머신 사이트 추천reportedly laid off half of its staff, around 230 employees.슬롯 머신 사이트 추천
In India, due to restructuring exercises,슬롯 머신 사이트 추천fintech startup Simpl laid off 100슬롯 머신 사이트 추천employees and promised them two months' severance pay. Another슬롯 머신 사이트 추천Indian company, PrepLadder, owned by Unacademy,슬롯 머신 사이트 추천handed슬롯 머신 사이트 추천pink slips to its employees and announced슬롯 머신 사이트 추천to shift its sales strategy.슬롯 머신 사이트 추천
Tech Layoffs in 2024; Reasons, Effects and Opportunities
Cutting costs has become a priority for companies from different sectors amid the global슬롯 머신 사이트 추천economic slowdown. The report mentioned that many customers changed their preferences after pandemic, which affected슬롯 머신 사이트 추천the fitness and travel industry. On the other hand, the report emphasised that AI슬롯 머신 사이트 추천automation and technological advancement witnessed rapid advancement, which was슬롯 머신 사이트 추천good for슬롯 머신 사이트 추천the companies but bad for their employees. Most notably, the restructuring exercise followed by this trend was seen in the finance and tech sectors.슬롯 머신 사이트 추천
Besides the technology and finance sectors, the cryptocurrency industry슬롯 머신 사이트 추천reportedly struggled슬롯 머신 사이트 추천due to market pressure,슬롯 머신 사이트 추천volatility and scrutiny from regulatory authorities. The report슬롯 머신 사이트 추천said such a crypto industry company Bakkt, located in슬롯 머신 사이트 추천Atlanta, reduced 28 headcounts.슬롯 머신 사이트 추천The report by슬롯 머신 사이트 추천Indian Express슬롯 머신 사이트 추천said widespread layoffs could have a "cascading effect" on the economy.슬롯 머신 사이트 추천The recovery from this effect would슬롯 머신 사이트 추천reportedly be slower슬롯 머신 사이트 추천due to the post-pandemic downturn.슬롯 머신 사이트 추천Motional Layoffs: Self-Driving Technology Company Lays Off 40% of Its Workforce in US, Postpones Robotaxi Plans Amid Restructuring.
The report suggested that while the recent increase in workforce reduction might be concerning; however it could also슬롯 머신 사이트 추천hold moments for growth and new opportunities. The슬롯 머신 사이트 추천Indian Express슬롯 머신 사이트 추천advised the impacted people to adapt, find ways to reinvent, and said to remember, "value extends far beyond your current situation."
(The above story first appeared on LatestLY on May 12, 2024 07:43 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).