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Message: <blockquote data-quote="mag123" data-source="post: 29775260" data-attributes="member: 73975">The tech industry led layoffs in the first quarter of 2024 making up 16.5% of all the job cuts in the period, according to a Challenger, Gray There were 257,254 job cuts in the first quarter of 2024, with the tech industry accounting for 42,442 of these layoffs Tech companies are aggressively spending on AI and next-generation initiatives while cutting on non strategic areas," Wedbush analyst Dan Ives told , noting that the firm believes "the vast majority of job cuts are in the rear view mirror but will play a major role this year in the strong getting stronger."The report indicated that "cost-cutting" was the most common reason employers gave for eliminating jobs with 66,302 of the layoffs being tied to cost reduction. In the first two months of 2024, the technology industry has grappled with a wave of layoffs as companies prioritize efficiency over growth in response to challenging market conditions. The job cuts, which began in 2023 with over 250,000 positions eliminated, have continued into the new year. Till March the industry saw around 50,000 roles eliminated across significant tech giants, according to tracking site layoffs.fyi. Here are the biggest layoffs that happened the month of March this year.IBM cut jobs across teamsIBM's Chief Communications Officer, Jonathan Adashek, announced job cuts in the company's marketing and communications divisions during a brief seven-minute meeting.Dell laid off 6,000 employeesDell has cut jobs for the second time in two years. In a recent filing, the company revealed that it has reduced its workforce by about 6,000 employees. The personal computer division faced sluggish demand, resulting in an 11% drop in revenue last year. Dell expects net revenue to grow, but warns of near-term challenges and rising input costs</blockquote>

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