LOS ANGELES (CelebrityAccess) – The tech sector experienced significant layoffs in January 2024, with nearly 7,800 employees affected across several companies. Google, including its video-sharing platform YouTube, has been particularly impacted. YouTube is reportedly reducing around 100 jobs as part of a reorganization to streamline operations and focus on new technologies like Artificial Intelligence (AI). The news was confirmed via a spokesperson for the company and reported by The Hollywood Reporter.
This move comes amid a growing number of creators on the platform. The restructuring involves consolidating the platform’s music teams into one team, reporting to Lyor Cohen, Global Head of Music at Google and YouTube. The video streaming service’s TV, film, sports, and media teams will be consolidated into one group.
Mary Ellen Coe, YouTube’s Chief Business Officer, stated in an internal memo (obtained by various media outlets), “As we have seen the past few years, our creator base is broadening and diversifying, from our most experienced creators to a new generation of casual creators posting on YouTube for the first time.”
These layoffs in the tech sector are part of a broader trend, with several companies, including Twitch, Prime Video, MGM Studios, Audible, Duolingo, and others, undergoing job reductions in both 2023 and 2024 thus far.
Analysts suggest that this year’s layoffs in the tech industry appear to be more closely related to the prioritization of AI technology, as companies aim not to get left behind in the emerging AI revolution. Google CEO Sundar Pichai warned staff earlier this week to expect further job cuts as the company shifts to new areas such as AI.
“We have ambitious goals and will be investing in our big priorities this year,” Pichai said in a memo first reported by The Verge. “The reality is that to create the capacity for this investment, we have to make tough choices.”
