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This year's layoffs in the tech industry have puzzled many, given the large cash reserves held by many companies. Even as the pandemic slows, layoffs continue, with 209 tech companies cutting 50,312 jobs since January, according to Layoffs.fyi. Major companies like Alphabet, Amazon, and Microsoft have joined the trend, pushing cuts in their tech sectors to near-dot-com bust levels. Although some hoped for relief this year, layoffs remain high, leaving workers scrambling for a once-booming job market. reason? Stock price. Layoffs drive up stock prices, and companies are poised to perpetuate this trend. This could become the new normal in technology employment. Workers are used to it, and investors are happy with it. Only time will tell if this trend continues.
Layoff: L3Harris
L3Harris recently announced that it will be cutting its Waco workforce by 50 positions, citing continued evaluation of resources against customer needs. Despite the reductions, the company remains committed to providing assistance to affected employees, including severance pay, continued benefits and job placement assistance. As a prominent figure in the defense industry, L3Harris emphasizes her role as a “trusted disruptor” and boasts her nearly 50,000 employees worldwide dedicated to advancing technology solutions for national security. With annual revenues of $19 billion, the company's Waco facility is a testament to its continued presence in the region.
Employment: electric boat
Submarine builder General Dynamics Electric Boat will hire more than 5,000 workers this year, including 1,900 at its Rhode Island shipyard at Quonset Point, as construction of its Columbia-class ballistic missile submarines accelerates. The plan was announced. President Kevin M. Graney emphasized the importance of the Columbia program, which currently rivals Virginia-class workloads, and emphasized the company's continued expansion. The lead ship of the Columbia class is already 42% of her construction complete, and Electric Boat aims to strengthen its workforce to meet the demands of this once-in-a-generation initiative.
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opportunity to watch
As the demand for talent in the field of generative artificial intelligence soars, the number of AI-related job openings is rapidly increasing, reflecting the growing importance of this technology across industries. One of the emerging trends is the rise of the role of Chief AI Officer (CAIO), with over 400 federal departments alone seeking candidates for this position.
But questions remain. Who should play this role, and what responsibilities does it entail? According to Skillsoft's Asha Palmer, companies should carefully consider their use cases and associated risks before investing in dedicated AI leadership. Must be considered. Whether through a CAIO or an AI governance board, organizations must prioritize oversight and strategies to navigate the evolving landscape of AI technology and its regulatory implications.
