Tech sector contracts further as layoffs continue into 2024

Employment tracker shows more than 33,000 tech workers have been let go so far in 2024 

SANTA MONICA, CALIFORNIA - APRIL 19: Evan Spiegel, CEO of Snap this week announced a 10% reduction in its global workforce, impacting more than 500 workers (Photo by Joe Scarnici/Getty Images for Snap, Inc.)

The pace of the global tech fallout shows little signs of slowing with the post-pandemic demand slump of last year looking to continue into 2024.

Job cuts among giants PayPal and Snap are the latest to hit the contracting industry, with more than 33,000 workers within the sector let go so far in 2024, according to tech tracking firm, layoffs.fyi.