2024 Sees Surge in Layoffs Across Industries, Tech Sector Hit Hardest

Economic pressures and advancements in AI contribute to widespread job cuts, with major companies announcing significant layoffs.

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.