Big Tech layoffs are back. Are other workers at risk?

Job cuts economy-wide stand at a near-historic low, but tech could be a bellwether.

Big Tech companies laid off hundreds of employees in recent days, commanding headlines and confronting workers across the economy with a question: Am I next?

Amazon and Google each imposed cuts, with Apple shutting down a 121-person team in San Diego, Calif., telling workers they must either transfer to Texas or leave the company, Bloomberg reported.

In all, the tech sector has laid off nearly 8,000 workers so far this year, according to layoffs.fyi, a site that tracks tech-sector employment.

The job cuts stem in large part from an ongoing staff reevaluation specific to the tech industry, since sales have retreated from the blistering pace attained during the pandemic, analysts said, noting comparatively scant layoffs across the wider workforce.

However, the recent cutbacks in tech also are due to the rise of artificial intelligence and the persistence of high interest rates, some analysts said, foretelling similar risks for workers across major swathes of the economy.