The tech industry has been experiencing a significant increase in job cuts, with over 98,000 employees being laid off from more than 330 companies worldwide in the first half of 2024, according to Layoffs.fyi. Prominent companies like Apple, Google, Microsoft, and Meta are among those implementing these layoffs. Economic uncertainties are impacting the technology sector workforce, with 39 companies laying off a total of 9,742 employees in May alone.
Google laid off nearly 200 employees from its core teams in California, part of Alphabet’s plan to reduce its workforce by about 6 percent. Microsoft also made significant cuts, laying off more than 1,000 employees across various divisions. Job search platform Indeed laid off about 8 percent of its workforce in May, while Toshiba plans to cut 4,000 domestic jobs as part of its restructuring efforts.
TikTok, Amazon, and Meta have also made layoffs affecting operations and marketing teams. In India, fintech company One97 Communications confirmed layoffs of its sales division, while ReshaMandi laid off 80 percent of its employees after failing to raise Series B funding. Retail and food delivery giants like eBay, Flipkart, and Swiggy have also made job cuts. Other Indian companies facing layoffs include Ola and Byju’s.
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https://www.business-standard.com/amp/technology/tech-news/tech-layoffs-98-000-impacted-as-apple-google-others-continue-job-cuts-124062400228_1.html