Overview

• Tech layoffs have surged since the start of 2024, with over 34,000 workers affected as companies pivot towards AI investments.
• Despite a lower number of layoffs compared to 2023, the tech industry's job cuts have become a concerning trend for employees.
• Major tech firms, including Microsoft, Alphabet, and PayPal, have slashed thousands of positions to allocate resources for generative AI.
• The shift towards AI and cost discipline has led to layoffs across various sectors, including gaming and video streaming platforms like Twitch.
• Analysts warn that the trend of layoffs could continue as companies reassess their workforce and investment priorities.