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More tech layoffs in 2024 likely, due to rising costs, greater automation, say experts

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Adapting to changes in job demands is crucial in the face of uncertain job markets, the experts said.

Adapting to changes in job demands is crucial in the face of uncertain job markets, the experts said.

ST PHOTO: JASON QUAH

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SINGAPORE – Cost management, adjustments to over-hiring during Covid-19 and the emergence of new automation technologies have all contributed to a spate of layoffs in the tech sector in recent years.

Music-streaming platform Spotify, for example, had

three rounds of layoffs in 2023,

and let a total of about 2,300 employees go that year.

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