Tech Industry Job Losses Reach 32,000 In 2024 But AI Talent Demand Sees A Surge

Up to now, approximately 32,000 tech employees have faced job losses this year, as reported by Layoffs.fyi, a startup monitoring industry layoffs since the onset of the pandemic.

On Monday, Snap joined the ranks of companies downsizing its workforce, revealing a reduction of approximately 10%, equivalent to around 540 employees.

Other major technology companies such as Amazon, Salesforce, and Meta Platforms, the owner of Facebook, have also taken similar measures.

While economic considerations primarily drive tech layoffs, Roger Lee, the founder of Layoffs.fyi, highlighted that numerous companies are redirecting resources to prioritise the acquisition of AI talent.