Tech
How Working For Google, Amazon, And Microsoft Lost ‘Dream Job’ Status
Despite blockbuster earnings from giants such as Alphabet and Microsoft, layoffs continue to ripple through the tech industry.
Layoffs.fyi, a platform monitoring job cuts in the tech sector, recorded more 263,000 job losses in 2023 alone. As of April 2024, there have been more than 75,000 job losses in the industry so far.
“So instead of rewarding the growth that we saw them all pursue years ago, they’re now rewarding profit,” said Jeff Shulman, professor at the University of Washington’s Foster School of Business. “And so the layoffs have continued. People have become used to them. Regrettably and sadly, it seems that the layoffs are going to be the new normal.”
Even though mass tech layoffs continue to dominate headlines, the labor market still seems strong. The U.S. economy added 303,000 jobs in March, well above the Dow Jones estimate for a rise of 200,000, with the unemployment rate edged lower to 3.8%.
According to Handshake, a popular free job posting site for college students and graduates, the tech layoffs have prompted new workers to seek other opportunities. The share of job applications from tech majors submitted to internet and software companies dropped by more than 30% between November 2021 and September of 2023.
“Part of the reason why this is happening is because stability is such a major factor in students’ decisions around what types of jobs they apply to and what types of jobs they accept,” said Christine Cruzverga, chief education strategy officer at Handshake. “They’re looking at the headlines in the news and they’re paying attention to all of the layoffs that are happening in Big Tech, and that makes them feel unstable.”
Mass layoffs have eroded the shine of the tech industry, which is why workers are questioning whether getting a job in the tech industry should still be regarded as a ‘dream job.’
“For the people who are chasing like a tech dream job, I think keep your options open and be realistic,” said Eric Tolotti, senior partner engineer at Snowflake, who got laid off from Microsoft in 2023. “Don’t just focus on one company and feel like you have to get into that one company because it’s the dream.”
Watch the video to learn about tech workers’ sentiments, considerations for aspiring Big Tech employees, and more.
Chapters:
0:00-03:11 Cold Open
03:11-05:11 Chapter 1: The golden age of tech jobs
05:11-07:22 Chapter 2: Start of tech layoffs
07:22-10:21 Chapter 3: Is tech’s shiny image eroding?
10:21-12:00 Chapter 4: What’s next?
Produced by: Anuz Thapa
Edited by: Kevin Heinz
Narration by: Jordan Smith
Graphics by: Christina Locopo, Jason Reginato
Supervising Producer: Jeff Morganteen
Additional Footage: Getty Images
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How Working For Google, Amazon, And Microsoft Lost ‘Dream Job’ Status
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The auto industry is staring at a ‘perfect storm’ of slowing population growth, longer lasting cars, high prices, and new technology. These factors stand to put significant downward pressure on new car sales by 2040, according to analysts at Bain & Co.. The landscape could be far more competitive and prone to consolidation.
Chapters:
00:00 Introduction
00:46 Chapter 1: The reasons why
03:22 Chapter 2: Uncertainty
04:56 Chapter 3: Competitive U.S.
Reporter: Robert Ferris
Produced, shot, and edited by: Darren Geeter
Additional editing by: Carlos Waters
Animations: Jason Reginato, Emily Park
Senior Managing Producer: Tala Hadavi
Additional footage: Getty Images
Additional sources: Bain & Company, AutoForecast Solutions
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Why Analysts Say The Auto Industry Is Heading For Demographic Cliff
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Zhipu’s GLM 5.2 dropped last week and Silicon Valley noticed immediately. The Chinese open-source model is closing in on the American frontier on the benchmarks that matter most for agentic work. And it’s free to download, fine-tune, and run on your own servers. Developer adoption on OpenRouter is moving faster than DeepSeek did back in April.
This week we ask what it actually means for enterprises, for vertical AI companies, and for the infrastructure trade underneath all of it.
Box CEO Aaron Levie on how enterprises are thinking about model selection when capable open-source is in the mix. Harvey co-founder and president Gabe Pereyra on building specialized AI on top of open-source infrastructure. And Bernstein’s Stacey Rasgon on OpenAI’s new Jalapeño chip and what the race to cut inference costs means for Nvidia and Broadcom.
Chapters:
00:00 Introduction
1:02 Zhipu’s latest model, GLM 5.2
5:12 Gabe Pereyra, President and Co-Founder, Harvey
8:41 Aaron Levie, CEO, Box
36:31 Stacy Rasgon, Senior Analyst, Bernstein Research
Anchor and Columnist: Deirdre Bosa
Produced by: Jasmine Wu
Edited by: Andrew Evers
Senior Director of Video: Jeniece Pettitt
Additional Footage: Getty Images
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Z.AI And The Chinese Open Source Moment
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CNBC’s Seema Mody got an exclusive look inside GE Vernova’s largest gas turbine plant in Greenville, South Carolina offer fresh evidence that the AI boom is only getting started. Inside the factory, engineers are working side-by-side factory workers to speed up production of this complex machine. Two hundred workers were hired last year and three hundred more are expected to start working at this factory by end of year. Prices of gas turbines are surging more than 300% since 2023 as companies like XAI, Microsoft and OpenAI deploy turbines at their data centers powering AI.
Reporter: Seema Mody
Produced by: Jeffrey Kopp, Noah Broder
Edited by: Darren Geeter
Camera: Shawn Baldwin, David Soltis, Macklin Fishman
Senior Director of Video: Jeniece Pettitt
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How The AI Data Center Buildout Is Creating Boom For The Gas Turbine Industry
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Sports TV ratings and live rights fees are soaring, but professional leagues and broadcasters are facing a new battleground for young fans. Social platforms like TikTok and YouTube are claiming an increasing share of viewing hours among Generations Z and Alpha. Sports clips, highlights and creator content can introduce younger fans to professional sport, but how do the major players cash in?
Reporter: Lillian Rizzo
Produced & Edited by: Tasia Jensen
Camera: Natalie Rice
Animation: Jason Reginato, Emily Park
Senior Managing Producer: Tala Hadavi
Additional Footage: Getty Images
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How TikTok And YouTube Are Reinventing Sports Viewership
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With a simple swipe motion in front of Meural, a high-tech art display, a person can swipe through Monet and Picasso pieces in their living room. Here’s a glance at how it works.
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Meural: High-Tech Display Bringing Monet, Picasso Into Your Living Room | CNBC Make It.
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