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, 32,576 employees have been removed this year so far.
Snap.Inc became the latest firm to join the trend after it announced around 500 employees, or 10 percent of its workforce, would be removed.
“We are reorganising our team to reduce hierarchy and promote in-person collaboration. We are focused on supporting our departing team members,” a Snap.Inc spokesperson told CNBC.
Cybersecurity and identity company Okta and Zoom also announced layoffs this month.
Okta decided to remove 400 people while Zoom will reduce 150 workers, according to Layoffs.fyi.