This Tech Companies Initiate Sweeping Layoffs as 2024 Begins - AITechTrend

This Tech Companies Initiate Sweeping Layoffs as 2024 Begins

Amazon’s Twitch Cuts 35% Staff: Twitch, owned by Amazon, plans to cut 35% of its workforce (about 500 employees) as part of a rightsizing effort, addressing concerns about the company’s size relative to its business scale.

Audible’s Layoffs: Amazon’s audiobook division, Audible, also underwent cuts affecting 100 employees, aligning with the broader strategy of streamlining operations across different business units.

Amazon’s Prime Video and MGM Studios Cuts: Amazon is set to cut “several hundred” employees in its Prime Video and MGM Studios divisions after a thorough review of various aspects of the company’s operations.

Google’s Multi-Division Layoffs: Google laid off “hundreds” of employees, including teams in engineering, hardware, and those working on Google Assistant, signaling a strategic shift and realignment within the company.

Duolingo’s AI Transition: Language learning app Duolingo cut 10% of its contract employees, shifting towards increased reliance on artificial intelligence for content generation while assuring no impact on full-time employees.

AI Startup Humane’s Workforce Reduction: AI startup Humane announced a 4% reduction in its workforce (10 employees), framed within an initiative to better position the company for continued growth, as shared by CEO Bethany Bongiorno.

Discord’s Workforce Reduction: Discord CEO Jason Citron revealed plans to cut 17% of its workforce (approximately 170 employees) to enhance focus and agility in the company’s operations.

Unity Software’s Restructuring: Video game software developer Unity Software disclosed a significant restructuring plan, intending to cut one-quarter of its staff (around 1,800 jobs) to position itself for long-term and profitable growth.

Tech Layoffs Compared to Last Year: Despite ongoing layoffs in the tech sector, the current month’s numbers pale in comparison to the same period last year, with only 37 tech companies making layoffs compared to 278 in January of the previous year.

Significant Job Loss in 2023: In 2023, major U.S. layoffs totaled over 305,000 employees across various industries, including tech giants like Amazon, Google, Meta, and Microsoft, each making substantial workforce cuts amid economic uncertainties.