The pandemic gave a powerful impetus to the development of the information technology industry, and last year many market participants realized that they had “overstaffed”, starting to get rid of “excess staff” in the context of a macroeconomic downturn. As Benzinga explains, American tech giants continue to show an alarming trend this year, cutting 42,324 employees since the beginning of the period.
In fact, as the source explains, in the US tech sector, an average of 780 employees lost their jobs every day this year. If we take into account that over the entire last year almost 263,000 people were laid off in this area, then the first two months of this year demonstrate a dynamics of staff reductions in technology sector companies that is very close to last year. It is also alarming that in the American economy as a whole, 353,000 new jobs were created in January of this year alone, and employment problems are now observed mainly in the technology sector.
Perhaps such personnel policies of technology companies in the United States are due to the desire to reduce costs and thereby please investors and shareholders. Google, Amazon, Microsoft, Discord, Salesforce, eBay and PayPal announced staff cuts in January. The reformatting of the labor market in the United States is partly influenced by the boom in artificial intelligence, which forces companies to devote all available resources to this area, sometimes to the detriment of the interests of employees. Of course, specialists in artificial intelligence systems are in demand on the labor market, but the number of vacancies in this area is not growing as quickly as layoffs are occurring in the sector as a whole.
If you notice an error, select it with the mouse and press CTRL+ENTER.