Giant tech companies are starting this year off strong by laying off their employees. In early January, Google fired more than 4,000 employees in their tech sector -- Kai vejsada, 8th grade
Google employees can make a good living, according to ZipRecruiter, with salaries ranging from roughly $38,000 to $138,000 per year. According to Google, the reason for so many layoffs was to become more cost-efficient and reduce spending. Recently, YouTube also cut 100 of its employees according to The New York Times, in order to trim costs as part of its parent company Google. Google also says another reason for cutting their employees is because they feel that AI can replace some if not all of them.
Many other tech companies are also considering big cuts to their employees. According to abc7news, Ebay's CEO, Jamie Iannone, said they would be cutting around 9% of their employees in order to become more “nimble.”
In late January, Microsoft also announced that it would be cutting around 1,900 jobs in its gaming division, around 8% of its total gaming workforce.
Levi Strauss & Co. said last week that it was planning to cut 10 to 15 percent of its workforce of 19,100. Also last week Macy's announced that it would be cutting about 3.5% percent of its workforce, which is roughly 2,350 employees. The reason for most of these cuts is to reduce cost, as well considering replacing them with AI counterparts. these cuts also could be related to Macy's releasing a new AI customer service bot back in October of 2023.
In all around 32,000 employees have lost their jobs so far and tech companies show little signs of slowing down.