Navigating the Choppy Waters of Tech: The 2024 Layoff Tsunami

Predicting cycles of economic fortune and misfortune has always been a hallmark of the tech industry. But if the tech layoff boom of 2024 was indeed a period of profound flux for giants and upstarts alike, it was also a time of great turbulence for the major US-based companies that led the charge. From Amazon to Tesla, from newly launched startups to long-established companies such as Google and Microsoft, there seemed to be few exceptions. This historical account of layoffs from 2024 aims to explain the circumstances that led to these layoffs, make sense of them, and perhaps even provide a light at the end of the tunnel.

The Stark Numbers of 2024's Tech Layoffs

The first six months of 2024 have seen 60,000 job cuts announced by 254 companies – a deeply disturbing indication that massive corporate layoffs began in earnest last year and continued into this year. Layoff announcements from companies such as Tesla, Amazon, Google and other giants have been widespread, and the impact on smaller-sized startups has been no less severe, with some shutting their doors altogether.

The Human Impact Behind Tech Innovat...

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