In tech, 2024 started the way 2023 did — with a wave of layoffs — even though the U.S. economy is booming and the industry is thriving.

Why it matters: Layoffs can be devastating if you’re involved, but in the roiling world of tech, regular job cuts are also part of the landscape.

• In tech, company leaders see layoffs as a way to stay efficient, shift priorities and weed out underperformers — while many employees, particularly those with technical skills, assume that finding a new job won’t be that hard, and often they’re right.
• In many cases, the same companies that are laying people off are also still hiring.
• Tech giants like Microsoft and Amazon, which recently cut jobs in gaming and streaming respectively, are simultaneously planning huge investments in AI.