Tech layoffs continue after 'Year of Efficiency'

An attendee has her photo taken in front of the Google house at CES 2024, an annual consumer electronics trade show, in Las Vegas, Nevada, U.S. January 10, 2024. REUTERS/Steve Marcus

(Reuters) - Big Tech's "Year of Efficiency" may be over but recent layoffs at Google and Amazon have signaled the firms will keep cutting jobs in 2024 as they make big investments in generative AI.

Analysts and industry experts believe the layoffs would be smaller and more targeted this year, with firms that are racing to catch up in the AI race more likely to make such moves to offset the billions of dollars they are spending on the tech.