Tech analysts from Bernstein Research have been providing monthly updates on layoffs across the industry for approximately one year. This week, they formally discontinued the data series.
According to data from Trueup.io, the latest update on Monday reported a total of 4,937 tech job cuts in August. If the current trend continues, it is projected that there will be approximately 11,000 layoffs. This number is significantly lower than the number of tech industry job losses in the first six months of this year, which amounted to over 300,000 job losses, averaging about 51,000 losses per month.
According to a recent email from Bernstein analysts, they declared that the Tech Job Recession is over and that tech layoffs have significantly decreased. The analysts are now wondering when the hiring in the industry will start to pick up again, particularly in the SaaS Funding sector. Explore numerous tech job opportunities on Jooble monthly job cuts across the tech industry have been limited by the boom of AI startups, which have raised substantial amounts of money this year. In addition to investing in GPU purchases from Nvidia, these startups are also allocating funds towards hiring engineers and other AI specialists.
The careers website had 60 open roles listed on Tuesday afternoon.
Many big tech companies have stopped laying off employees and some have even started rehiring staff they previously let go a few months ago.
Meta experienced significant workforce reductions, resulting in a 25% decrease in employees. Following these cuts, a number of workers have been rehired by Meta, primarily from June onwards. According to Insider, Amazon laid off approximately 25,000 employees in January. In February, Ian Wilson, the vice president of human resources at AWS, communicated that the company was actively seeking opportunities to reemploy some of the individuals who were previously laid off.
