Tech layoffs exceed 92,000 this year as AI investments rise
Business
Big changes are hitting tech this year: more than 92,000 people have lost their jobs so far, with nearly one-half of those cuts happening just in April.
The main reason? Companies like Meta and Amazon are pouring huge amounts into artificial intelligence (AI), and that means less money for other teams.
Tech firms cut thousands for AI
Meta is letting go of 8,000 employees this month as part of a massive $135 billion push into AI.
Snap has trimmed about 1,000 roles (16% of its staff) to save on costs, while Amazon has dropped 30,000 positions since late last year.
Even smaller companies aren't immune: GoPro cut nearly one-fourth of its team and Tailwind slashed most of its engineers, all because AI.