[Video] - Why do So Many American CEOs Come From India ???

[UltimaOnline]

 

[k1976]

Last month, several companies announced cuts, with a mix of economic uncertainty, ‘strategic priorities’, or AI displacing jobs cited as the causes.

These include:

• Nokia announced it would cut up to 14,000 jobs between now and 2026, blaming weaker-than-expected earnings, around 16% of its current headcount of 86,000 employees.
• LinkedIn announced it would lay off 668 employees across finance, talent, and engineering areas — or more than 3% of staff globally. The company, part of Microsoft, said it was making ‘strategic priorities for our future.’ The cuts are the second major staff reduction in 2023, following the loss of around 700 jobs in May.
• Q&A stalwart Stack Overflow also announced the end of the line for 100 employers — around 28% of staff — with the rise of AI said to be one of the root causes.
• Google laid off 12,000 workers — around 6% of its staff — over 2023, including 50 employees at Google News in October.
• Self-driving car technology company Waymo LLC is on to its third round of layoffs this year.

Unfortunately, as we prepare for 2024, these trends look set to continue. With other industry leaders from Cisco Systems to Roku joining the fray, the debate on how tech innovation impacts employment is further intensifying.

Elsewhere, Qualcomm’s decision to slash 1,200 workers — 2.5% of its workforce — and Epic Games’ move to lay off 16% are further indicators of a broader, unsettling trend.

https://www.techopedia.com/tech-layoffs-predictions