It hasn’t been a happy new year as tech layoffs continue to plague the industry just as 2024 is beginning.

New year, new round of tech layoffs. That seems to be the case in the tech world as multiple companies have announced layoffs affecting thousands of employees in the weeks following the start of the new year. Frequent tech layoffs have been taking place since 2022, raising questions about the stability of employment in the industry amidst the rise of artificial intelligence (AI). 

Here are some companies that have announced tech layoffs to kick off 2024. 

Amazon

Amazon is said to have “initiated the largest layoffs in its history” as it has cut more than 27,000 jobs. The latest casualties are hundreds of employees belonging to the Prime Video and MGM Studios divisions. 

“Throughout the past year, we’ve looked at nearly every aspect of our business with an eye towards improving our ability to deliver even more breakthrough movies, TV shows, and live sports in a personalized, easy to use entertainment experience for our global customers,” says Amazon exec Mike Hopkins in a memo. 

“As a result, we’ve identified opportunities to reduce or discontinue investments in certain areas while increasing our investment and focus on content and product initiatives that deliver the most impact,” Hopkins reveals. “As a result of these decisions, we will be eliminating several hundred roles across the Prime Video and Amazon MGM Studios organization.”

500 employees from its Twitch service have also been laid off. 

Discord

Following layoffs that took place last August, Discord slashed 170 more jobs, which is equal to 17% of the company’s staff. In comparison, last year’s layoffs cut 4% of the company’s staff. 

According to Discord CEO Jason Citron, the tech layoffs are a result of the company’s goal of improving long-term operations. The CEO admitted that the company took on more employees since the first year of the pandemic in order to work on more projects. 

Google

Over a thousand employees have been laid off by Google’s parent company, Alphabet, since January 10. Unfortunately, the layoffs are going to continue for the rest of the year. 

“We have ambitious goals and will be investing in our big priorities this year,” Google CEO Sundar Pichai said in an internal memo. “The reality is that to create the capacity for this investment, we have to make tough choices.”

The Google CEO has assured employees that this year’s layoffs will not match last year’s, which saw 12,000 people losing their jobs to start 2023. Pichai likewise assured that this year’s cutoffs will not affect every team. 

Microsoft 

While Microsoft’s gaming division saw success last year when it acquired Activision Blizzard, it started 2024 on a sour note. The tech giant announced that 1,900 employees under the division were set to be laid off. 

Laid off employees came from teams for Xbox, ZeniMax, and even Activision Blizzard. 

“As we move forward in 2024, the leadership of Microsoft Gaming and Activision Blizzard is committed to aligning on a strategy and an execution plan with a sustainable cost structure that will support the whole of our growing business,” Microsoft Gaming CEO Phil Spencer said in an internal memo. 

Riot Games 

As seen in the job cuts affecting Activision Blizzard, Xbox, and ZeniMax, the gaming world hasn’t been exempt from the mass layoffs occurring in the tech world. League of Legends developed Riot Games is another gaming company that announced that hundreds of jobs have been cut off. 

Specifically, 530 jobs globally have been cut, according to an announcement by the company. The number represents 11% of Riot Games’ total workforce. Employees affected belonged to teams outside of core development. 

“We recognize that many of you don’t just care about the games you play, but also about the people who make them,” the video game developer acknowledged. “These are not just organizational changes; they affect individuals and families, and we do our best to approach these decisions with respect and sensitivity.” 

TikTok 

Even social media app TikTok has not been spared from the onslaught of job cuts happening in the industry. Its parent company, ByteDance, announced that 60 jobs have been cut. TikTok employs over 150,000 people globally. 

The layoffs are part of cost-cutting measures by the company, according to a spokesperson for TikTok. The spokesperson said the layoffs are due to reorganization happening within the company. 

Are These Layoffs a Cause for Alarm? 

Despite thousands of job cuts happening within the first month of the year alone, Fortune says that data actually shows that “the job market is stabilizing.” It likewise notes that layoffs peaked in Q1 2023 and the number has decreased since. 

However, despite the stabilizing of the tech job market, Fortune says that “many employers remain profit-focused.” Citing Insight Global CEO Bert Bean, it points out that companies remain cautious about hiring. 

While this can affect job seekers who wish to apply for jobs in the tech industry, this should not completely hinder those who wish to apply. With 2024 having only just begun and the job market on its way to more stability, the tech industry and those who depend on it for livelihood can hope for a better year ahead.