Tech employees are still getting terminated in 2024. In January, statistics showed that around 34,000 workers were laid off in the tech industry.

This is considered the highest termination record in a single month since January 2023; roughly 90,000 tech employees were terminated that month.

Does this mean that the tech industry is no longer stable and secure? Here's what tech employees need to know.

How Tech Employees Cope With Terminations

In January, numerous tech firms decided to terminate thousands of employees. Tech Crunch listed them, such as the following:

• Twitch: 35% of its workforce were terminated.
• Amazon: Over 500 employees were laid off.
• Google: Hundreds of workers from the Google Assistant division were terminated.
• Discord: Around 17% of its employees were terminated.
• Pixar: Over 20% of its workforce were laid off.

These are just some tech firms that terminated their employees in January. YouTube, Riot Games, TikTok, eBay, etc., also reduced their workforce.

According to NBC News' latest report, terminated employees can cope with their layoff experiences. Some are going to LinkedIn to find similar jobs or explore other careers.

Others rely on their ex-colleagues and friends to bounce back. Meanwhile, some tech workers decided to establish communities consisting of other terminated staff.

One of these communities is called the Xoogler, which ex-Google employee Christopher Fong manages. Xoogler offers various support services.

These include psychotherapy coaching and activities that can help boost the confidence of terminated staff.

Read Also: PayPal to Cut 2,500 Jobs or 9% of Global Workforce in Another Massive Layoff Round

Is the Tech Industry Still Stable?

Ayomi Samaraweera, the former Chief of Staff at Jellysmack, recalled a time when the tech industry seemed like the most stable industry for employees.

"There was a time when working in tech seemed like the most stable career you could have," she explained.

However, after getting terminated in December 2022, she said that the tech sector no longer seems safe and secure.

Previously, the U.S. Bureau of Labor Statistics released government data revealing that the overall layoffs in the American economy are declining.

But, this isn't the case for professional and business services, especially in many technology-related jobs.

Related Article: IBM Seeks Volunteers for Layoffs, Targeting 80% Reduction in Worldwide Staff