Several factors contribute to the current wave of layoffs in the tech sector. Paramount’s struggle with the shift to streaming highlights the challenges traditional media companies face in adapting to changing consumer preferences. Similarly, Instacart’s restructuring reflects a strategic pivot towards promising initiatives, necessitating a realignment of resources. Meanwhile, companies like Nike and Toast cite cost-cutting measures as they seek to optimize operations and enhance profitability amid economic uncertainties.
Tech layoffs 2024: Cisco cuts 4,000-plus jobs; Paramount lays off 800staff; Instacart, Mozilla, and…