The Weekend Brief offers analysis and insights on one big news item of the week, delivered only to Quartz members.
Despite 2023 being such a bumper year for tech companies, they’ve laid off more than 24,000 employees in just the first month of 2024, ranging from the smallest firms to the giants of Silicon Valley.
There are at least three factors behind these massive layoffs: the adoption of artificial intelligence, a quest to increase earnings, and cutting costs ahead of a merger or a sale.
The Weekend Brief will take a close look at the deep cuts since the pandemic and how these companies are justifying layoffs in an era of soaring valuations.
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