The tech jobs bust is real. Don’t blame AI (yet)
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American tech companies such as Oracle, Block, Amazon, and Meta are shedding workers, with total employment in San Francisco falling by 3% since the beginning of 2023. The tech jobs bust is real, but it's not yet clear if AI is to blame.
American tech firms are cutting jobs. Oracle and Block have announced thousands of layoffs. Amazon and Meta are also reducing their workforces. Total employment in San Francisco has fallen by 3% since 2023. The tech industry's 'magnificent seven' have barely grown their payrolls from 2022 to 2025. The job cuts are a sign of a larger economic trend. The tech industry is experiencing a downturn. Many companies are shedding workers to stay afloat.
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