The tech industry, once a beacon of job security, has seen significant layoffs in 2024. While September offered some relief, with fewer companies announcing job cuts, the overall picture remains concerning.
- Data from layoffs.fyi shows a significant drop in tech layoffs in September compared to August.
- In August, a staggering 44 companies let go of 27,065 employees – the highest number since January 2024.
- September saw a decline, with only 30 companies announcing layoffs impacting 3,765 workers.
Microsoft, Udemy Layoffs
- Despite the overall decrease, September still saw notable job cuts from major tech companies.
- Microsoft announced layoffs impacting 650 employees in its gaming division.
- Online learning platform Udemy also announced plans to reduce its workforce by 20%, affecting roughly 280 employees.
- This restructuring aims to save costs and follows Udemy’s reported $50 million loss in the first half of 2024.
Cisco’s Layoffs
- Cisco stands out for its aggressive workforce reduction strategy.
- The company implemented a second round of layoffs in August, impacting around 5,600 employees – a 7% reduction in its workforce.
- This follows an earlier layoff in February that affected 4,000 workers.
- Cisco delayed informing impacted employees until September 16th, raising questions about the company’s handling of the situation.
Also Read: Positive and Negative Impacts of Technology
