Post
News
8mo
From Google to Meta; Why these tech giants are still cutting jobs in 2024?🤷♀️
Tech giants like Google and Meta are letting employees go, despite ongoing innovation. Experts say these companies over-hired during the e-commerce boom fueled by lockdowns.
Now, they're restructuring for a new economic reality, focusing on Artificial Intelligence and streamlining operations.
This trend highlights the boom-and-bust cycle within the tech industry and raises a critical question:
Is this a sign of a tech industry meltdown, or just a course correction?🤔
hrterminator
8mo
currently not working
They are just correcting their mistake that they did during lockdown. During lockdown companies hired actively ignoring the future complications that would take place due to mass hiring. It also became a burden on the finances of the company.
momager
8mo
A Subject Matter Expert
Financial crunch. Investors aren't investing like they used to during the 2020-22 period. And, these companies don't really ask employees to take a pay-cut either because it reflects badly on their image so they just lay-off the employees.
tallented
8mo
works at
Apparently, these "tech layoffs" are absolutely fake and a scam by the tech industry to drive down employee cost through fear mongering.
skillcandy
8mo
A Senior HR Recruiter
@tallented Not really a conspiracy theory guy but I buy it given most of these "layoff" news are com... see more
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