Overview

• Layoffs continue to surge in 2024, with tens of thousands of jobs already cut across industries such as tech, media, and travel.
• High interest rates and inflation are major factors driving companies to reorganize and cut costs.
• Major companies like Alphabet, Amazon, and UPS have announced significant layoffs, with UPS planning to cut 12,000 jobs.
• The tech industry is particularly hard hit, with over 240,000 jobs lost in 2023 and layoffs continuing into 2024.
• Artificial intelligence and automation are contributing to the trend, with companies looking to reduce expenditures and improve efficiency.