Tech Giants Including Microsoft, Alphabet, PayPal Slashed 34,000 Positions For Generative AI Investment In 2024: Report

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Benzinga

In a strategic move to invest in generative artificial intelligence (AI), major tech companies have collectively cut 34,000 jobs since the beginning of 2024. What Happened: Companies such as Microsoft Corp (NASDAQ:MSFT), Alphabet Inc (NASDAQ:GOOGL) (NASDAQ:GOOG), PayPal Holdings Inc (NASDAQ:PYPL), and eBay Inc (NASDAQ:EBAY) have been restructuring their workforces to focus on AI, reported the Financial Times. Analysts believe that these layoffs are part of a broader trend in the industry, where companies are reevaluating their workforce and reallocating resources to invest in new technologies….

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