Layoff is nothing less than a nightmare for workers in technical or any field. With IT companies facing tough challenges in recent times after the pandemic, employees are being laid off for multiple reasons including cost-cutting, buyouts, restructuring, economic downturns, etc. Artificial Intelligence (AI) is also affecting jobs in IT sectors by replacing jobs and causing job layoffs. In this post, we are going to list IT corporations that are laying off their employees presently.
What companies are laying off in 2024?
All major technology companies including Google, Amazon, Microsoft, Meta, and Salesforce will be cutting off a good number of employees in2024. The layoff has already started in the first month itself with 25,000 employees losing their jobs. It may go on later this year and the number might go up.
List of Tech layoffs in 2024
Here is a list of leading technology companies that announced layoffs this year:
- Flexe Inc.
- Riot Games.
Microsoft, one of the largest multinational technology corporations, is laying off 1,900 employees as announced towards the end of January. Most of these employees are from Activision Blizzard and Xbox comprising approximately 8% of Microsoft’s Gaming division. Here’s a quote from Phil Spencer, the CEO of Microsoft Gaming, announcing the same:
We have made the painful decision to reduce the size of our gaming workforce by approximately 1900 roles out of the 22,000 people on our team.
Earlier in 2023, Microsoft laid off 10,000 workers which was one of the biggest layoff of the year.
Another tech giant that is laying off its workers is eBay. It has announced to let go of around 1,000 employees, which is 9% of its total workforce. Jamie Iannone, the President and Chief Executive Officer of eBay, said:
We have to say goodbye to people who have made so many important contributions to the eBay community and culture, and this isn’t easy.
As he says, the employee count and expenses at eBay have surpassed the rate of business growth and thus, the layoff happened.
Read: Top Indian CEOs in the World.
SAP, the world’s leading ERP software company, is restructuring 8,000 roles to gear up for the Artificial Intelligence (AI) era.
CEO Christian Klein says:
The planned transformation program signifies SAP opening the next chapter, intensifying the shift of investments to strategic growth areas, above all Business AI.
As a part of this restructuring plan, some employees are likely to be let go.
Google is another one that is planning layoffs this year. In the second half of 2023, the company let go of several employees from its ad sales team. Furthermore, hundreds of employees from its digital assistant, hardware, and other teams are being let go in 2024. And, you can expect more layoffs in the near future as confirmed by Google’s CEE Sundar Pichai.
The largest online retailer and technology provider, Amazon is also reducing its workforce in 2024. Hundreds of jobs are being cut off in various divisions including Alexa, streaming operations, etc.
- Audible, the online audiobook and podcast service, is reducing its workforce by 5% due to various challenges in the field including economic uncertainties, changing business environment, etc.
- Amazon Prime Video is also terminating hundreds of its employees.
In the year 2023, it sacked over 27,000 which was the biggest layoff of the year.
The famous short-form video hosting service, TikTok has also cut off several jobs at the start of 2024. Its parent company ByteDance has confirmed the layoff. The layoff has majorly affected the sales and advertising division.
Discord is an instant messaging and VoIP app. Its CEO Jason Citron announced a job cutoff of 17 percent, affecting 170 jobs in different divisions. It’s not the first time the company laid off its employees. About 4% of staff were let go in 2023. As the CEO says, this tough decision is taken to sharpen the company’s focus, improve efficiency, and be part of the changes that are driving the tech industry.
Twitch announced a layoff of 400 roles in March 2023. In another round of layoffs this year, it is decreasing its manpower by 35% approximately. This affects over 500 jobs in multiple departments of this live video streaming service.
9] Flexe Inc.
Flexe is next on the list of 2024 tech layoffs. It is a warehousing and logistics company which is expected to cut off 38% of its staff. It also laid off over 131 jobs last year.
Another mass tech layoff is confirmed by Unity Software, a popular cross-platform game engine. It is expected to cut 25% off its workforce as a part of the “company reset” process. Approximately 1,800 employees will have to leave their jobs. This won’t affect some but all teams in all locations, as confirmed by its CEO, James M. Whitehurst.
Xerox is an IT company that produces printers, photocopiers, document management solutions, and other related services. To fit into the changing environment of the tech field, it is also restructuring the company by laying off 15% of its employees.
12] Riot Games
Riot Games, the developer of famous video games like VALORANT and League of Legends, is laying off 11% of its workforce which is about 530 employees. The layoff is a result of the requirement of cost-cutting and focus on its games division.
Salesforce has announced the removal of 700 workers (7%) from their entire workforce. In 2023, a layoff of approximately 7,000 employees happened.
Intel is also joining the layoff trend and is expected to sack employees this year. The number might increase to 235 employees being cut off from their jobs in the USA.
While we hope these layoffs end soon, it is best to adapt to the changing environment of your field and brush up your skills to stand out and secure your position.
How many tech layoffs so far in 2023?
2023 saw drastic job layoffs in the technical industry. Unfortunately, over 4 lacs of tech workers lost their jobs which is huge. What is more unfortunate is that the layoffs are not ending here. It is continuing this year as well, with thousands of employees being sacked from their jobs.