Zach Duda
Tech Layoffs are Sweeping 2024
Jan 27, 2024

Graduating college soon and ready to enter the job market? What has a warmer feeling than knowing that tech layoffs have hit record highs and we're not even 2 months into 2024 yet.

CNBC reports that big tech has laid of on average 15% of its workforce this year. Ouch!

Despite boasting record profits last year, these companies are laying off its IT and tech sectors in troves. As CNBC elegantly puts it: This is clear indication that Artificial Intelligence is making its rounds. Here's why it's warranted, and why it may be their downfall.

Name a single industry that doesn't use technology. There are none! Even farmers use technology to their advantage in the industry. However, A.I has already proven itself capable of producing functional boilerplate for senior developers to review in a far shorter amount of time. This means that lower-level developers, contracted employees, and new tech hires are becoming less important.

As someone who wants to enter this market, this is concerning. It shows that in the end, the only concern a business will have is maximizing shareholder revenue. If there is a way to cut costs and keep its output the same; that's pure profit. Companies can't resist increasing their profits, and it goes to show that AI's moment to shine is 2024. This will be the year that we see if AI can hold true to its promises.

While AI is promising, there are still many things AI can't do. One of those things is view an organizations existing infrastructure in a large context. AI has limits on the instructions it can utilize. For example, you can feed it about 3 paragraphs of context before most Language Learning Models (LLMS) like the infamous ChatGPT begin losing details.