Page 36 - Unity Software News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Last year, tech giants like Meta, Amazon, Google, and Microsoft laid off employees and saw their stock prices rise. This year, they are making smaller, targeted job cuts while focusing on key products like AI. Smaller tech startups are also slashing jobs to survive. The layoffs are a correction after years of a booming global economy and near-zero interest rates. Tech executives are now admitting to over-hiring during the pandemic. In the first 30 days of 2024, approximately 100 tech companies have seen 25,000 job cuts. Consolidation and cost-cutting are expected to continue in the industry.

After last year's widespread layoffs, the largest firms -- including Amazon, Google and Microsoft -- have in recent weeks made smaller, targeted job trims while focusing on fewer projects and shifting resources to key products such as artificial intelligence. Some tech startups -- such as Flexport, Bolt and Brex -- have slashed more deeply to stave off potential extinction. The mandate from the top is the same: Do more with less.

Many companies in the U.S. have kicked off 2024 with fresh plans to cut jobs, signalling the spate of layoffs seen last year will likely continue.

SAN FRANCISCO — Last year, Mark Zuckerberg declared 2023 to be a “year of efficiency.” His company, Meta, soon laid off one-third of its employees. Amazon, Google and Microsoft also cut tens of thousands of workers. Their worlds did not stop. Not only that, the companies were rewarded. Their stock prices soared. Some divisions were