On the past month almost 50,000 jobs across North America have disappeared in the technology sector, as both large and small companies axe workers to trim their costs.
In the past month almost 50,000 jobs across North America have disappeared in the technology sector, as both large and small companies axe workers to trim their costs.
“It's disappointing to see bets that were previously made not fully paying off, and unfortunately, human capital pays the cost. The good news here is that Canada's tech industry as a whole, is incredibly robust," said Carmi Levy, a London-based tech analyst. The sector wide cuts are having an effect in Alberta. When Alphabet - Google’s parent company - axed 12,000 jobs, it announced the closure of the Edmonton office of the AI research hub DeepMind.Last week Calgary-based Benevity announced it was cutting 14 per cent of its workforce. The company cited market condition in making the announcement which came just over two years after the company achieved “unicorn status” after striking a $1.
“Danielle Smith and the UCP simply don't care about tech jobs, and the jobs that tech creates in every sector of our economy," said Notley. "Alberta’s tech sector is on fire at a time when tech investment across Canada is on the decline. In 2021 we attracted a record-breaking $561 million in tech venture capital and are on track to smash that record in 2022. "Despite that optimism, there is some trepidation of university campuses among students working toward a career in technology.
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