Tech industries are witnessing another wave of layoffs in 2024 continuing the trend which was witnessed late last year.
According to Layoffs.fyi, a start-up firm which tracks job cut trends since COVID-19 pandemic, 32576 employees have been removed this year so far.
Snap.Inc became the latest firm after it announced around 500 employees, or 10 per cent of its workforce, would be removed.
We are reorganizing our team to reduce hierarchy and promote in-person collaboration. We are focused on supporting our departing team members, a Snap spokesperson told CNBC.
Cybersecurity and identity company Okta and Zoom also announced layoff this month.
Okta decided to remove 400 people while Zoom will reduce 150 workers, according to Layoffs.fyi.
