However, as the US's big tech earnings season begins this week, some analysts are predicting strong numbers. This batch of quarterly financial results may show that the industry has cleared out its pandemic-era overhiring and reorganised itself around cloud computing and AI necessitating cuts in sectors with less rosy prospects. Analysts keen on AI say we are at the start of a tech bull market.
Since the start of the year, Google has laid off more than 1,000 employees. The cuts are slight compared with last January, when the Google chief executive, Sundar Pichai, announced a 12,000-worker layoff, but Pichai has warned of more cuts to come.
In an internal memo last week, he said that Alphabet, Google's parent company, was "removing layers to simplify execution and drive velocity in some areas".
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