Amazon laying off 14,000 people in name of efficiency? Here are the 5 real reasons for corporate cuts - Its not all AI!
In the past year, the technology sector has experienced a cycle of aggressive hiring followed by massive layoffs. Once seen as a safe haven for job seekers, tech companies are now facing significant workforce reductions. While layoffs can be attributed to multiple factors, five key reasons stand out as primary drivers behind the ongoing job cuts. 1. Post-Hiring Binge Cutbacks During the pandemic and its aftermath, many tech companies went on a hiring spree, fueled by increased demand for digital services. As remote work, e-commerce, and online entertainment soared, businesses aggressively expanded their teams. However, with economic stabilization and declining demand, many firms are now re-evaluating their workforce needs. The result? A wave of job cuts aimed at correcting the overexpansion of previous years. 2. Geopolitical Uncertainty and Trade Wars Global economic conditions play a crucial role in the tech industry's health. Geopolitical factors such as changing U.S. ...