January brought with it a wave of layoffs across the tech industry, and February seems to be continuing the trend. Over 33,000 jobs have been lost so far in 2024, according to Layoffs.fyi. Let’s take a look at the companies who’ve let employees go:
Grammarly is saying goodbye to about 230 team members worldwide. CEO Rahul Roy-Chowdhury explained it’s not about cutting costs, but rather adapting to the rise of AI technology. About 23% of Grammarly’s workforce felt the impact of this strategic shift.
DocuSign has a restructuring plan in the works, bidding farewell to 6% of its workforce, mainly in Sales & Marketing. That’s roughly 440 jobs out of 7,336 employees, as the company aims to streamline operations and boost efficiency.
Amazon isn’t immune to layoffs, with hundreds of roles being axed in its One Medical and Amazon Pharmacy units. Neil Lindsay, Amazon Health Services VP, explained it’s about reallocating resources to enhance customer experiences in healthcare.
Snap Inc., Snapchat’s parent company, announced it is parting ways with around 528 employees, about 10% of its global workforce. This move comes as Snap grapples with slower ad revenue growth compared to its rivals, Google and Meta.
Meetup was recently acquired by Bending Spoons, which initially seemed like good news, but the relocation of operations to Europe means layoffs for many US-based team members. CEO Luca Ferrari didn’t specify numbers, but it’s a tough blow for those affected.
These layoffs aren’t just numbers on a spreadsheet — they’re people’s livelihoods. While companies talk about strategic shifts and efficiency, the human impact can’t be ignored. As the tech landscape evolves, especially with the growing use of artificial intelligence, resilience and adaptability will be key for both companies and employees alike. It’s a challenging time, but by supporting each other and staying innovative, we can navigate these choppy waters together.
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