The once-thriving tech industry is now grappling with a harsh reality as widespread layoffs continue to sweep through the sector, leaving tens of thousands of workers struggling to find new employment.that the technology industry is facing its most significant job losses since the dot-com crash of 2001, with more than 50,000 positions eliminated across over 200 companies in 2024 alone, according to data from Layoffs.fyi.
This follows the 260,000 layoffs that occurred in 2023, which impacted nearly 1,200 tech companies. The current situation is a stark contrast to the booming market for AI engineers, who have seen salaries rise by 12 percent in the last quarter of 2023, with senior AI engineers earning an average of more than $190,000 nationally. Major players in the industry, such as Google, Amazon, Mark Zuckerberg’s Meta, and Microsoft, have all taken part in the downsizing, along with companies like eBay, Unity Software, SAP, and Cisc
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US Prepares to Put China's Tech Industry in Chokehold: ReportJoe Biden gave $8.5 billion in funding to Intel Corporation on Wednesday to boost the domestic semiconductor industry.
Source: Newsweek - 🏆 468. / 52 Read more »
Musicians in Tennessee can now sue over AI-created impersonations, governor warns tech can 'destroy' industryTennessee Gov. Bill Lee signed into law the Ensuring Likeness, Voice, and Image Security (ELVIS) Act, which aims to protect musical artists from replication by artificial intelligence.
Source: FoxNews - 🏆 9. / 87 Read more »
Understanding The Impact Of Generative AI On The High-Tech IndustryJim is a principal analyst and partner at TIRIAS Research, a high-tech research and advisory firm consisting of experienced analysts. Jim has over 30 years of technical and business experience with leading high-tech companies including Intel, Motorola, ON Semiconductor, STMicroelectronics, and General Dynamics Space Systems.
Source: ForbesTech - 🏆 318. / 59 Read more »
Why climate tech is the industry to watch in 2024Climate tech is designated the harbinger of new hope, as innovations in the industry aim to mitigate disasters.
Source: IntEngineering - 🏆 287. / 63 Read more »
Five Ad Tech Industry Trends For 2024 And Why They’re ImportantZack Dugow is Founder and CEO of Insticator, a global leader in increasing engagement for publishers. Read Zack Dugow's full executive profile here.
Source: ForbesTech - 🏆 318. / 59 Read more »
Tech Industry's Lack of AccountabilityLawmakers in California and elsewhere can no longer trust the tech industry's self-policing claims.
Source: CalMatters - 🏆 261. / 63 Read more »