"Mass layoffs are in store for 2024, and it might end up affecting nearly half of companies, according to a new poll.
That's the latest information from a Resume Builder survey, based on responses from more than 900 companies this month. Resume Builder is a professional platform that allows users to create resumes in just a few steps.
In the survey, nearly four in 10 companies said they are likely to have layoffs in 2024, prompting increased fears of a recession around the corner. More than half of companies also said they plan to implement a hiring freeze in 2024.
When asked why the companies were engaging in the layoffs, half said the anticipation of a recession was a reason. Meanwhile, a little less, four in 10 said they are going to lay off employees and replace workers with artificial intelligence (AI)."
https://www.newsweek.com/mass-layoffs-happening-2024-hiring-freeze-1855942
Any truth to this?
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I read this article about how companies are doing more layoffs in 2024 due to AI. anyone else worried? I was going to jump to a new company but I think the market will be even worse
https://www.newsweek.com/mass-layoffs-happening-2024-hiring-freeze-1855942
For the help with others that may not know yet, what tech companies do you believe/know will be laying off in 2024?
People working in IT tech & non tech companies, and other fields.
With 61% of americans living paycheck to paycheck and the average American in 60k in debt, how are these individuals handling the jobs cuts? I recently started following an account that posts earnings and one of the hot topics have been how much companies are downsizing and cutting staff at an exponential rate.
According to the article listed by Mondo 92% of companies are expecting more layoffs in 2024 and some have already started cutting staff by as much as 10-15% in January alone.
I guess my question is- how bad is this and how should we prepare for a downturn as people are out of work, can’t find jobs, and how to protect ourselves?
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We can talk about layoffs all we want. Each of us may Kano one or more persons who have been laid off of late. Some of us are even laid off right now ourselves, as in my and my wife’s case.
And yet, 3.7% is the officially released number.
UPS just announced 12,000
Google 12,000 in the next 2 quarters
Microsoft 1,900 from gaming division
Paypal 2,500
Dropbox, IBM, Amazon, Tiktok, and Salesforce all announced layoffs as well
Lots of retail including Levi's and REI
American Airlines 656
I'm sure more to come. It's going to get worse out there for those of us looking. Every person that gets laid off is another in the market looking for work.
Ive heard grumbling of a large wave of layoffs coming to tech in early-2024. Already had some in the last few weeks & sort of get the vibe one might be coming at my small company, but no department is clear yet.
Anyone else here expecting it to hit their SF team? Any managers here prepping for reducing headcount on their SF teams once the holidays end?
The tech industry's layoff wave shows no signs of abating in 2024. Following substantial workforce reductions in previous years, the trend continues with over 80,000 job cuts across 281 companies already recorded this year. Major players like Tesla, Amazon, Google, TikTok, Snap, and Microsoft have implemented significant layoffs, while even smaller startups have felt the impact, with some forced to cease operations entirely.
They are laying off US employees and filling up positions in India
The buzzword right now is “can not find talent here” esp for AI / blockchain areas
What's the problem?
Got laid off, so what? There are so many jobs now that when you lose your $200K full-time job you can replace it with 2 part-time jobs delivering food and driving people around for $25K/yr + tips.
2024 has kicked off with a bunch of layoffs.
Here is the list of some of the big companies that have cut jobs since the year began:
Amazon, Google, Walmart, BlackRock, Citigroup, Macy's, Universal Music, Xerox and now Wayfair
Who are we hearing is next?
I read half of all states will raise minimum wage In 2024. do you think companies will have huge layoffs for people in 2024?
Will literally anybody, anywhere, be laid off at some point in a calendar year? Almost certainly.
Will this be unusually common? There's no grounds to think so at this point, unless there's some kind of major unanticipated economic downturn.
Of course there will be layoffs.
I understand this is dumb but employees need to understand that companies these days will use any and every excuse in the book to fire them. Just be careful when they are doing things that could constitute a violation of company policy. Don’t expose yourselves to a potential layoff. Follow every policy to the letter of the law.
Come in 10 minutes early for work don’t let them use lateness as an excuse.
Use meal allowances to just buy food there is no point losing a $400,000 a year job to buy acne pads and tooth paste. Money is fungible buy orange juice and milk not household products.
Use the company car just to travel to and from work. Don’t use it to go on dates or to pick up your kids from school.
This stuff is dumb and these companies will use every excuse in the world and there is nothing you can do. You can sue for wrongful termination but an employment lawyer has to take the lawsuit. Most reputable lawyers won’t take these cases and if they do expect to pay a huge amount for retainer and legal fees if the lawsuit wins or loses. Hopefully the former employer settles the case and doesn’t fight it.
https://www.businesstoday.in/amp/technology/news/story/meta-layoffs-employees-fired-over-food-perk-misuse-grubgate-sparks-company-wide-reactions-450557-2024-10-18