According to the specialized website Layoffs.fyi, which refers to Financial Times, since the beginning of the year, technology companies have already cut about 34 thousand jobs. In total, 38 technology companies decided to layoffs this year, including Microsoft, Snap, eBay, PayPal, etc. Experts believe that this is due to the fact that companies are refocusing on new areas of activity, such as generative artificial intelligence.
However, this year the reductions in the technology sector are not as large-scale as at the beginning of last year. Then corporations such as Meta (recognized as extremist in the Russian Federation and banned), Amazon, Google, Microsoft, cut jobs created during the COVID-19 pandemic, which led to a surge in demand for the services of technology companies and the hiring of new employees. According to Layoffs.fyi, the tech sector lost 263,000 jobs in all of 2023.
Read about how investors assessed the reporting of IT corporations in the Kommersant publication. “We expected more from AI”.