01/11/2024

Big Tech Not Done with Layoffs

Google, Amazon announce cuts in 2024

The wave of layoffs that has broken over Silicon Valley in the past two years is not over.

On Wednesday, Google confirmed it had cut hundreds of engineering and hardware workers as it sought to cut costs and refocus on artificial intelligence. The same day, Amazon said it would cut some positions at its Prime Video and MGM Studios entertainment divisions. Twitch, a video game streaming company owned by Amazon, also said it was laying off 500 staff members.

The cuts at two of the industry’s biggest and most profitable firms show that the tech world is not done with the waves of layoffs that began in 2022. After a massive hiring spree during the first years of the pandemic, start-ups and Big Tech firms alike have been firing tens of thousands of workers as higher interest rates make it more expensive to invest in new projects and the companies seek to increase their profitability, rather than focusing on growth.

Please select this link to read the complete article from The Washington Post.