– Tech industry facing significant layoffs in 2024. – Thousands of employees are impacted by job cuts.
– When a company reduces its workforce by terminating employees. – Often due to economic downturns, restructuring, or technological changes.
– Economic uncertainty and recession fears. – Overhiring during the pandemic boom. – Rising interest rates and inflation. – Technological advancements and automation.
– Intel announces 15,000 job cuts. – Largest layoff in the tech industry so far. – Part of a $10 billion cost-reduction strategy.
– Microsoft cuts over 1,000 jobs in mixed reality and Azure divisions. – Affected employees primarily in product and product management roles.
– UKG, a software firm, lays off 2,200 employees. – 14% reduction in workforce to focus on key growth areas.
– Intuit, a financial management software company, cuts 1,800 jobs. – Represents 10% of its total workforce. – Plans to hire in other areas.
– Dyson, the UK-based appliance maker, lays off 1,000 employees. – Affected by intense competition and technological advancements.
– Kaspersky to lay off all employees in the US. – Koo, an Indian microblogging platform, shuts down operations. – Unacademy, WayCool, PocketFM, and Bungie also announced layoffs.
– Job insecurity and financial hardship for affected employees. – The ripple effect on the broader economy. – Potential for talent shortages in the future.