2024 in view: Spotlight on Tech Leaders
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In 2023, what set the ball rolling for the year in tech was the layoff surge . In 2024, however, it’s a trend of CEOs resigning, or so it seems.?Or better put, it seems the tide of tech trends has shifted to leaders across all levels.?
A few layoffs though…
FrontDesk, a US startup reportedly laid off 100% of its workforce this January due to its inability to raise capital. Co-founder and CEO Jesse DePinto was said to have communicated the decision to employees over a Google Meet call that lasted only two minutes. The company hasn’t shut down, but all services are currently suspended.?
Perhaps, Google calls are the new platform for announcing layoffs, as e-commerce companies, Wasoko and MaxAB have also announced on a Google Meet call, that 10% of their combined workforce will be laid off , following a merger between both companies. The merger was announced in December 2023 and affected roles most likely stem from redundancy in the workforce overlap between both companies.?
However, major trending stories have been around the executive cadre, closing out 2023 and starting 2024.
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Tech in Chaos: Examining the patterns and ripples of layoffs in 2023
Let’s circle back to 2020.?
A notorious year that united the world in a fight against the COVID pandemic. Anyone anywhere could be infected. The “lockdown” order shattered the dividing walls of race, religion, class, industries, and more. What came out of it, such as massive job loss on one hand, and on the other hand, a hiring frenzy due to the vibrancy of the digital space and massive switch to remote/hybrid work model, are also benefits spread evenly across the world.????
This event would be a good mirror to fully understand the depths and impacts of the massive layoffs of 2023.?
Once again, the world (specifically, the global tech space) is united in a fight against economic decline, and the drastic effect of this is a recurrent surge of layoffs from January to December. In fact, the pandemic kicked off in late 2022, when top companies like Meta and X (formerly Twitter) announced in November 2022 that they were laying off thousands of employees. Sadly, it looks like this would splurge into 2024 as well.?
We have mentioned economic factors as the culprit behind this, and also that there may be a number of layoffs in 2024. But those are not the only trends that highlight the different rounds and stories of layoffs. In this article, we discuss 10 of them we have observed.
Read more career-in-tech stories from CareerBuddyblog.com