Multiple tech giants had to make workforce cuts under the weight of economic pressure. Intel, Tesla, Cisco and Microsoft all cut costs, slashing 149,000 employees in 2024. The layoffs, symptomatic of the balance that tech firms find themselves in between growth and economic reality, have underscored how far tech firms’ goals for explosive growth diverge from the realities of the global economy.
However, these workforce reductions came with their share of uncertainties, but they also started bringing up conversations about upskilling and reskilling workers to do jobs in jobs that were emerging with AI and other advanced technologies.
