Mumbai, February 19: In 2024, many tech companies have cut jobs to streamline costs and as a part of restructuring. Tech giants like Microsoft, Google, Meta, Amazon, and others have significantly laid off employees and have reportedly adopted artificial intelligence or automation to speed up their operations. Meta's CEO Mark Zuckerberg has allegedly tried to provide an answer to the ongoing question 'why the tech layoffs are not slowing down?'. 

According to the report by NDTV, the Meta CEO replied in a podcast, 'Speaking Morning Brew Daily', that the companies have realised the benefits of a 'learner'. The report further said that Mark Zuckerberg said that the companies, after the pandemic era, have still been adjusting and making "painful" decisions. The tech billionaire emphasised the leadership style and disagreed with "delegating that much". Indian Small and Medium Enterprises' Budgets Increasing Due to Rise of AI, Global Uncertainty and Security Threats: Report.

Mark Zuckerberg in Morning Brew Daily Podcast:

Recently, tech giants like Google, Microsoft and Amazon have fired employees, and many other small-tech companies have reportedly joined the tech layoffs in 2024. When asked about AI boom and layoffs, Meta CEO replied that the layoffs could result from companies trying to navigate COVID-19. The CEO said that the tech layoffs are happening not due to artificial intelligence. 

The CEO of Meta explained that earlier, the company partnered with talented people they cared about; however, he said that being a "learner" could make the company more effective. Meta was also among the companies that laid off thousands of employees the previous month. The report said that the headcount of the company was 67,317 at the end of the last year, which was a 22% decrease year-over-year. AI-Focused Trip: Indian Founders of Venture Capital Fund Peak XV Meet Nvidia CEO Jensen Huang.

Moreover, due to the tech layoffs in 2024, around 32,000 tech workers have lost their jobs, as reported by Layoffs.fyi, a startup involved in tracking the industry's job cuts since the pandemic. The answer given by Meta CEO Mark Zuckerberg is not conclusive; however, it hints that the tech layoffs are not entirely due to the adoption of AI or related automation technology. 

(The above story first appeared on LatestLY on Feb 19, 2024 02:27 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).