The beginning of the year 2024 was not very good for the working people. Especially in the technology sector, there has been a flood of layoffs this year. If reports are to be believed, more than 1 lakh 35 thousand employees have been laid off in several hundred companies so far this year. If a report is to be believed, after the year 2022 and 2023, large scale job cuts are being seen this year as well.
Major companies like Tesla, Amazon, Google, TikTok, Snap and Microsoft have done mass layoffs in the first few months of 2024. The layoffs of these companies have created a new stir in the tech world. Small startups are also affected by this and many have completely shut down operations.
According to the data of Layoffs.fyi, a large number of employees working in the tech sector lost their jobs at the beginning of this year. Which continued till the end of August. Talking about August 2024, the report shows that more than 26 thousand people have lost their jobs this month. There were more than 40 layoffs in August. These include big companies like Intel, Cisco, IBM.
Layoffs in large companies
Intel is cutting 15,000 jobs, which is 15% of its total workforce. The company has taken this decision to cut down on expenses. Cisco is also reducing its workforce by 7%, which will affect about 6,000 employees. IBM is closing its research and development center in China and is laying off 1,000 employees. Companies are taking this decision due to the decrease in demand for IT hardware.
Apple also recently laid off about 100 employees from its services division. GoPro is also cutting its workforce by 15%, likely to lay off 140 people by the end of 2024. Dell Technologies has also cut its global workforce by 10%, laying off 12,500 employees. Layoffs at IT companies increased by 15% in 2023, which is expected to continue in 2024.
what do the statistics say
- January 2024: 34,107 employees laid off
- February 2024: 15,639 employees laid off
- March 2024: 7,403 employees laid off
- April 2024: 22,423 employees laid off
- May 2024: 11,011 employees to be laid off
- June 2024: 10,083 employees to be laid off
- July 2024: 9,051 employees to be laid off
- August 2024: 26,024 employees to be laid off
Also read: SSC GD constable recruitment notice issued, more than 39 thousand posts will be filled
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