🕶️ Tech’s layoff tsunami: over 130,000 jobs gone

Generative AI is transforming business success

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Paula Echeverria & Lucila Sarquis
December 26, 2024

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As we wrap up another eventful year in the startup world, we want to take a moment to wish you all a joyful and peaceful holiday season 🎄✨

In 2024, the wave of tech layoffs shows no signs of slowing down, with over 130,000 job cuts across 457 companies 💼 Meanwhile, rumors swirl that OpenAI “considered” diving into the world of humanoid robots 🤖

On another note, the Clop ransomware gang has taken responsibility for breaching a staggering 66 companies, exploiting a bug in Cleo Software's file transfer tools 💻 🔓

Don't miss our video breaking down the juicy drama surrounding OpenAI this year! 🎬 🔥

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Six bullets of updates

  1. 💻 Clop ransomware gang claims responsibility for breaching 66 companies through a bug in Cleo Software's file transfer tools.

  2. 🔍 Google uses Anthropic's Claude to evaluate Gemini AI, raising concerns about compliance with Anthropic’s TOS.

  3. 🚀 MENA-based startup CredibleX raises $55M in a seed round to boost revenue-based financing for SMEs, issuing $27M to date.

  4. 🤖 Generative AI is transforming business success by balancing cost, time, and quality, empowering even small firms.

  5. 💳 Colombian fintech Bold acquires Tuily to enhance SME financial tools; Tuily serves over 250 clients.

  6. 💡 Lilium receives a lifeline from investors after its bankruptcy, planning to rehire some of the 1,000 laid-off staff.

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Layoff Chronicles: the hits keep coming for tech workers

Source: Unsplash

The wave of tech layoffs continues unabated in 2024, with over 130,000 job cuts across 457 companies, according to Layoffs.fyi. Major players like Tesla, Amazon, Google, and Microsoft have downsized significantly, while smaller startups have also been hit hard, with some shutting down entirely. The layoffs highlight shifting priorities in the tech industry, including an increased focus on AI and automation, reshaping roles once considered stable. These cuts, while indicative of evolving innovation strategies, also underscore the profound human and economic impacts of workforce reductions.

A closer look at recent layoffs reveals widespread effects across sectors. Companies like Boston Dynamics, Bluevine, and Calendly have trimmed their workforces, while others like EasyKnock and Mixtroz have ceased operations entirely. Some layoffs, such as Yahoo’s reduction of its cybersecurity team and Booking Holdings' focus shift to AI, reflect strategic pivots. Meanwhile, companies like CredibleX, thriving in niche markets, illustrate how adaptability and innovation can counter industry-wide challenges. These ongoing workforce changes reveal the complex interplay between economic pressures and technological advancement. See more.

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OpenAI's humanoid robot ambitions

Source: Unsplash

OpenAI has reportedly explored creating its own humanoid robot, according to The Information. While the company shut down its robotics division in 2021, it has since invested in Figure, 1X, and Physical Intelligence. Renewed interest in robotics comes amid rapid advancements in hardware and AI, though OpenAI faces stiff competition in this evolving field.

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The Hidden Threat Draining Your Performance—And How UFC Athletes Are Fighting Back

Aires Tech, an official partner with the UFC supports the performance and well-being of their elite athletes by offering advanced EMF protection solutions. UFC athletes face intense physical, mental, and psychological demands, and Aires Tech’s solutions help them reduce the harmful effects of EMF exposure, which can disrupt brain health, recovery, and overall performance. By normalizing brain function and mitigating EMF-related stress, Aires Tech enables athletes to maintain mental clarity, enhance recovery, and sustain peak performance during training and competition. This collaboration reflects a shared commitment to excellence, injury prevention, and optimizing long-term health for UFC athletes.

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Slidebean Revenue Data

Mistakes were made as we grew Slidebean, but more than surviving, we've learned from them.

As part of that, we wanted to release our actual financial numbers for the company's formative years.

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OpenAI: who is REALLY in charge?

One of the most intense startup dramas of the year, with resignations, leaked emails, lawsuits, and more. It's like a never-ending saga. We tried breaking it down in a video to keep things simple, but it feels like there's always a new twist popping up every other day. Crazy times we're living in, right? 🕶️ Don’t forget to subscribe for more!

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