Tech Industry Faces Wave of Layoffs

The tech industry continues to face significant layoffs, with over 143,000 jobs eliminated in 2024 alone, affecting major companies like Tesla, Amazon, Google, and newer firms. Recent announcements include a 30% workforce reduction at Mozilla and additional cuts at X (formerly Twitter) and Samsung, all attributed to economic pressures and restructuring strategies. In the media sector, layoffs are also prevalent, with over 500 journalists losing their jobs this year, notably at the Los Angeles Times and Time magazine. Companies like Disney and Paramount have also implemented workforce reductions, contributing to a shifting landscape in Hollywood amid post-pandemic recovery. In contrast, Apple has managed to maintain headcount stability, with only minor layoffs compared to its peers. This ongoing trend highlights the broader impact of automation and AI on job security across various industries.