Statistics also reveal that the cumulative number of job cuts in the tech sector has reached alarming levels. Since the beginning of 2021, tech companies have laid off more than 720,000 people.
This figure underscores the volatility and unpredictability of the tech industry, which, despite being a driver of innovation and economic growth, is also susceptible to rapid changes and downsizing.
These layoffs reflect broader market dynamics, including shifts in consumer behavior, technological advancements, lack of corporate governance, lack of market research, and economic pressures.
https://technext24.com/2024/06/10/90000-tech-layoffs-job-losses-may-2024/