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No, the Great Tech Layoffs of 2023 Aren’t Happening Again
Jan 25, 2024
Amazon, Discord, Duolingo, and Google all started 2024 with job cuts, but experts say the tech job market isn't facing the same trouble as last year.
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Quick takeaways
- The recent tech job cuts in companies like Amazon, Discord, Duolingo, and Google are smaller and more targeted compared to the significant layoffs in 2022 and 2023, indicating a healthier overall tech sector.
- Despite the layoffs in the tech industry, the unemployment rate for tech jobs remains low at 2.3%, and many laid-off tech workers have successfully transitioned into other sectors or started their own startups.
Deep dives
Tech layoffs in 2024 are smaller than in previous years
Tech companies like Duolingo, Twitch, Amazon, Google, and Discord have recently announced layoffs. However, experts say that these job cuts are smaller compared to the significant layoffs in 2022 and 2023. The tech sector is still considered healthy overall, and the labor market remains steady. These layoffs are more targeted and reflect shifting priorities and reorganization within companies rather than a decline in tech jobs.
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