The tech industry is experiencing a wave of job cuts while also investing heavily in artificial intelligence (AI) technology. While not all layoffs are directly linked to AI, companies are reallocating resources and citing AI as a reason for rethinking headcounts. More than 5,500 tech employees have lost their jobs in the first two weeks of 2024. The recent cuts come after a challenging period for the industry, with hundreds of thousands of jobs lost due to the pandemic. As AI continues to reshape the business landscape, concerns are raised about its impact on the labor market and disparities in its effects on certain workers.
The tech industry is experiencing a wave of job cuts while also investing heavily in artificial intelligence (AI) technology. While not all layoffs are directly linked to AI, companies are reallocating resources and citing AI as a reason for rethinking headcounts. More than 5,500 tech employees have lost their jobs in the first two weeks of 2024. The recent cuts come after a challenging period for the industry, with hundreds of thousands of jobs lost due to the pandemic. As AI continues to reshape the business landscape, concerns are raised about its impact on the labor market and disparities in its effects on certain workers.
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The tech industry is experiencing a wave of job cuts while also investing heavily in artificial intelligence (AI) technology. While not all layoffs are directly linked to AI, companies are reallocating resources and citing AI as a reason for rethinking headcounts. More than 5,500 tech employees have lost their jobs in the first two weeks of 2024. The recent cuts come after a challenging period for the industry, with hundreds of thousands of jobs lost due to the pandemic. As AI continues to reshape the business landscape, concerns are raised about its impact on the labor market and disparities in its effects on certain workers.
While AI tools putting workers out of jobs has been a major point of anxiety in Silicon Valley and beyond over the past year, not all the recent layoffs in the tech industry are directly linked to AI tools simply replacing workers.