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Despite Booming Economy And Record Profits Google, Amazon, Microsoft And More Lay Off Over 42,000 So Far In 2024 (finance.yahoo.com)

submitted 8 months ago by L4s@lemmy.world to c/technology@lemmy.world

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Despite Booming Economy And Record Profits Google, Amazon, Microsoft And More Lay Off Over 42,000 So Far In 2024::Despite a booming U.S. economy and significant advancements in the tech sector, including a robust performance by companies like Nvidia Corp. and a thriving artificial intelligence (AI) industry, tech companies have continued to lay off workers at an alarming rate in 2024. The tech-heavy Nasdaq index has shown an impressive uptick and the U.S. economy added 353,000 jobs in January, outpacing economists’ forecasts. However, this overall economic strength masks a wave of layoffs in the tech sector

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[–] danc4498@lemmy.world 9 points 8 months ago

Thank god we gave a massive corporate tax cut. This way they have more money to pay their employees