85 Tech Giants Laid Off 23,670 Workers in January Marking the Highest Monthly Figure Since March

23,670    

As per the website Layoffs.fyi tech giants like Alphabet, Meta, Microsoft and other 85 tech companies had laid off over 23,670 workers in January, marking the highest monthly figure since March. The surge in January layoffs may be attributed to companies learning to operate efficiently with fewer resources and a broader industry focus on repositioning for artificial intelligence (AI) development. 

67%   

A survey of nearly 2,000 decision-makers reveals that 67% of businesses lack a marketing action plan, and over half operate without a business plan. The Marketing Maturity Report by The Marketing Centre underscores a widespread lack of strategic planning, with most respondents expressing uncertainty about how marketing contributes to their business goals. So, SMES must develop comprehensive business and marketing plans to navigate uncertainties and ensure overall business success.

5.3%      

Research indicates that with ad spend growth slowing to 5.3%, advertisers face a rising threat of invalid traffic (IVT), which is projected to waste over $71 billion in 2024, a 33% increase from 2022. Lunio's analysis stated that 2.6 billion paid ad clicks reveal an 8.5% invalid traffic rate across major channels, affecting budget allocation and revenue forecasts. LinkedIn tops the list with a 25% IVT rate, contributing to an estimated $204.8 billion in lost revenue opportunities in 2024, emphasizing the need for marketers to optimize ad spend efficiency and combat fake engagement. 

15.5%  

Alphabet's Q4 earnings report reveals a 15.5% YoY growth in YouTube's ad revenue, reaching $9.2 billion, indicating a renewed interest in premium formats like video. The company's overall ad revenue increased by 11% YoY to $65.5 billion, with Google's largest segment, Search and other, rising by 12.7% YoY to $48 billion during the crucial holiday season. Executives highlighted the success of subscriptions, generating $15 billion in revenue in 2023, with YouTube playing a significant role in Google's subscription strategy. 

76%   

These days e-commerce businesses have been facing several issues each day and customers feel frustrated by a lack of personalization and inefficient search, are the enemy of conversion. 73% of retail customers use multiple shopping channels, but 76% are more likely to purchase from personalized brands. Generative AI and machine learning offer the magic wands for meaningful experiences, yet traditional thinking hinders brands from seizing this amazing opportunity. 

$1B  

The Industrial Innovation Fund, initially focused on robotics and automation for warehouses, now expanding its investment scope to include transportation-related ventures, aiming to enhance Amazon's logistics network. Amazon's $1 billion venture capital fund, launched in 2022, is now targeting startups in last-mile technology and autonomous vehicles to further integrate technology into fulfillment centers and improve delivery efficiency. 

8%    

Despite a reported 8% decline in toy industry sales in 2023 due to factors like inflation and increased consumer debt, the overall industry has seen a $5.7 billion increase in sales since 2019. In 2023, three toy supercategories showed growth, with building sets leading, generating a $220 million increase, driven by popular Lego lines. Despite challenges, the U.S. toy industry maintained a positive four-year compound annual growth rate, showcasing resilience amid economic difficulties.