Despite an improved economy, US tech giants continue to lay off

Tech Giant lay off 12,000 employees this week, following the ongoing wave of layoffs at major companies.

CEO of Google, Sundar Pichai, expressed regret for the company's last week announced layoffs and claimed "full responsibility" for the choices that produced them.

Google lay off 12,000 employees this week, following the ongoing wave of layoffs at major companies. When Meta let go of over 11,000 workers in November of last year, Mark Zuckerberg sounded as repentant.

This week, industry heavyweights IBM and Spotify joined the list, bringing the total number of IT jobs lost this year to 53,000—and it's only January.

In 2022, as the wave of layoffs began to reverberate around the globe, more than 140,000 people were let go. These businesses had employed quickly and in large numbers with the hope that business would stay the same for years, encouraged by the significant increase in web usage during lockdowns imposed by governments as the first line of defence against Covid-19 throughout the world.

But as vaccinations restored order, online usage started to decline, and the extra workers that had been employed in anticipation of a growing economy suddenly seemed unnecessary.