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Why widespread tech layoffs keep happening despite a strong U.S. economy
The number of tech sector layoffs in 2024 has been outpacing the number of terminations in 2023.
"The layoffs to the start of 2024 signal a dramatic shift in the tech industry," said Jeff Shulman, professor at the University of Washington's Foster School of Business. Companies need to free up cash to invest in the chips and servers that power the AI models behind these new technologies. Watch the video above to learn why another rough year of layoffs may lie ahead for tech workers, and why the surprising strength of the U.S. economy may not be coming to their rescue.
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