Tech companies have axed 34,000 jobs this year as they rejig their workforces to invest in new areas such as generative artificial intelligence to power their next phase of growth.
Microsoft, Snap, eBay and PayPal have each scrapped hundreds or thousands of roles since the start of January, according to the website Layoffs.fyi, which tracks the attrition in the industry. A total of 138 tech companies have laid off staff this year.
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