Tech Layoffs Hit Dot-Com Levels as Companies Cut Costs

Tech industry layoffs in 2023 were at dot-com bust levels; 28,218 cuts occurred in Jan-Feb 2024, with 12,412 in February.

209 tech companies laid off 50,312 employees in 2023; 1,191 companies laid off 269,180 in 2022. Major firms like Alphabet, Amazon, Microsoft conducting layoffs.

Layoffs partly driven by post-pandemic cost cutting initially, but now by stock prices - cuts boost share prices.

Job market now highly competitive; tech workers accepting less stability, tougher work, or lower pay.

Salary increases stalled last 2 years, but pay still strong overall - AI entry level $109K-$138K; senior director $178K-$310K.