The once-thriving tech industry is now grappling with a harsh reality as widespread layoffs continue to sweep through the sector, leaving tens of thousands of workers struggling to find new employment.
CNBC reports that the technology industry is facing its most significant job losses since the dot-com crash of 2001, with more than 50,000 positions eliminated across over 200 companies in 2024 alone, according to data from Layoffs.fyi. This follows the 260,000 layoffs that occurred in 2023, which impacted nearly 1,200 tech companies. The current situation is a stark contrast to the booming market for AI engineers, who have seen salaries rise by 12 percent in the last quarter of 2023, with senior AI engineers earning an average of more than $190,000 nationally.
Major players in the industry, such as Google, Amazon, Mark Zuckerberg’s Meta, and Microsoft, have all taken part in…
