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Top Stories: Let’s Talk About The Real Reason For All The Tech Layoffs, Fake Jobs & More This week was packed with major headlines: layoffs rocked the tech industry, fake job discussions sparked controversy, and new AI regulations were proposed in several states. https://lnkd.in/g7vTJ4nK

Interested in learning the tech layoff numbers from the past month? - Over 10,190 tech jobs were cut in October, with total layoff numbers reaching 275,550+ in 2023 - The Western US region witnessed the highest job cuts, totaling 7,260 across 40 companies - Notable company layoffs this month have been Qualcomm (1,250), Qualtrics (780), LinkedIn (678), and Convoy (500) 🔸 Get the latest layoffs update and actionable advice from HR experts like Dr. Kyle Elliott, MPA, CHES about reframing your mindset when reading about the job cuts: https://lnkd.in/gYPv3rEg

Since the beginning of January, 182 tech companies have announced layoffs, affecting a staggering total of 46,066 employees. This figure translates to an additional 8,000 job losses in February alone. Contrary to popular belief, the root cause of this downturn is not the advent of Artificial Intelligence (AI) or automation technologies. Instead, the primary culprit seems to be the financial prudence adopted by businesses in the United States and Europe due to geopolitical tensions and economic uncertainties. https://lnkd.in/ezh2ipFt

The U.S. economy is going strong - much stronger than anyone expected. So why the tech layoffs? It is a return to the fundamentals of business: you have to make a #profit. If you’re not contributing to PROFIT then you might as well start looking for a new job… because thst next round of tech layoffs will continue to focus on the fundamentals. #profitstream #recession #agile

The number of tech sector layoffs in 2024 has been outpacing the number of terminations in 2023. There are several factors behind the churn. Artificial intelligence is at the forefront. Watch Anuz Thapa’s latest for CNBC to learn more about why tech workers may be poised to endure another rough year of layoffs, and why the surprising strength of the U.S. economy may not be coming to their rescue. https://lnkd.in/dZnqVF3Q

Tech layoffs are a major concern for many people in the industry, and they are being widely discussed in the news and on social media. Some people believe that the layoffs are a sign of a weak economy, while others believe that they are simply a necessary adjustment to changing market conditions. While we previously discussed Job Architecture and Leveling as tools for organizational health and workforce optimization, we'd like to acknowledge the importance of building an efficient talent acquisition team and strategy as well. In the article below, Elizabeth McFarlan Scott shares three key strategies to build a more resilient and efficient Talent Acquisition function in the wake of the 2024 tech layoffs. #techlayoffs #talentacquisition https://lnkd.in/ebWSDrwP

Let’s Talk About The Real Reason For All These Tech Layoffs https://buff.ly/3XTLiiz Exploring the underlying causes behind the recent wave of tech layoffs is crucial for understanding the current industry landscape. Factors such as market shifts, company restructuring, and technological advancements play a significant role in these workforce reductions. For instance, increased automation and AI implementation can lead to job redundancies. It's essential for professionals to stay updated on industry trends and upskill to remain competitive in the evolving tech sector. #TechIndustryInsights #WorkforceTrends

💡 2023 witnessed the largest tech layoffs since the pandemic. Entering 2024, there's uncertainty but a significant reduction in layoffs. This resilience reflects a dynamic and robust tech industry in the UK. How are we adapting to sustain growth in this new landscape? What strategies can lead to a more resilient tech ecosystem? Join the conversation and discover more insights in our latest MIQ. Out now: https://lnkd.in/eUZm3HPy #techresilience #IndustryRecovery #techlayoffs

The Hidden Costs of Mass Layoffs in Tech: A Warning for the Future In the past couple of years, tech giants have executed mass layoffs, all in the name of cost-saving. But here's the sharp truth: while these cuts might save money in the short term, they are leading to an extreme rise in production-level bugs, system crashes, and declining product quality. When skilled professionals are let go, the expertise and institutional knowledge they possess disappear with them. This leads to rushed, error-prone work by the remaining, often overburdened, team members. The result? More bugs, frequent system crashes, and overall poorer product quality. The risk doesn't stop there. With fewer experienced hands on deck, the likelihood of major system failures and data breaches increases. This isn't just a minor inconvenience—it's a recipe for disaster that can cost your company its hard-earned reputation. Sure, you might attract new customers with flashy marketing and competitive pricing. But what happens when your product fails? Those same customers will lose trust, and your reputation will take a hit that's hard to recover from. The solution? Invest in a reliable tech team, whether in-house or outsourced. These teams ensure stability, continuity, and high standards of quality. Cutting corners in this area might save money now, but the long-term costs in lost reputation and customer trust can be enormous. As we look to the future, prioritizing the stability and security of our tech products is essential. Strong, knowledgeable teams are not just a luxury—they're a necessity for maintaining the integrity and reliability of our technological advancements. #TechLayoffs #ProductQuality #Reputation #TechTeam #FutureOfTech #StabilityInTech

The Paradox of Progress: Examining Tech Layoffs Despite a Year of Efficiency Improvements TechShots I Adding Intelligence to Enterprise Information Technology Buying #tech #layoff #efficiency https://lnkd.in/gC7mfePe