Layoffs 2024: From Toshiba to Kohler and ConnectWise, Check Companies That Laid Off Hundreds of Employees To Cut Costs, Improve Operations and Restructure Business

Texas, April 18: Layoffs in 2024 have been implemented by tech, business, automobile and other sectors to cut costs, restructure their business, implement artificial intelligence or simply because they faced slow demand. Despite various reasons, the tech layoffs, edtech layoffs and layoffs in general in various sectors have significantly impacted lives of employees causing worry about their job security. The recently announced Tesla layoffs led to a 10% global workforce cutdown, and following it, Google layoffs were implemented to cut costs. The US-based EV company Rivian also cut 1% of its jobs amid slow demand and cost reduction. 

According to The Layoff Tracker (@WhatLayoff) on X, plumbing product maker Kohler Co. confirmed to lay off 93 employees from Brownwood, Texas. The Kohler Layoffs are said to begin on June 14, 2024. Kohler reportedly cut 133 employees in 2022 and more in 2023. Another company that has announced to lay off employees is Joyson Safety Systems, a global leader in automotive safety systems. The Joyson Safety Systems layoffs will result in 108 employees leaving their jobs starting June 1, 2024. The layoffs will hit the San Antonino location in Texas in June 2024. Google Layoffs 2024: To Slash Costs, Tech Giant Reportedly Lays Off ‘Unspecified’ Number of Employees in Finance and Real Estate Teams.

Toshiba Layoffs 2024: Japanese Company Lays Off 5,000 Employees in Japan: 

Kohler Layoffs 2024: Company To Cut 93 Employees: 

Joyson Safety Systems Layoffs 2024: Company To Let Go 108 Employees: 

ConnectWise Layoffs 2024: Company Cuts 2% of Workforce, 80 Employees:

Fujifilm Diosynth Biotechnologies Layoffs 2024: Company Sacks 240 Employees: 

Obserweis Dairy Layoffs 2024: 127 To Be Laid Off From June 11: 

Ultimovacs Layoffs 2024: 40% Of Workforce To Be Affected: 

Osaic Layoffs 2024: Wealth Management Company Cuts Several Jobs: 

Business management systems company ConnectWise also reportedly announced that it would target 2% of its workforce. The ConnectWise layoffs are said to impact around 80 employees of the company. The company is reportedly letting go of employees to improve operations and ensure the alignment of resources. On the other hand, pharmaceutical manufacturer Fujifilm Diosynth Biotechnologies will also cut 240 jobs worldwide, which will include 67 employees at the company's Research Triangle Park Facility in the United States. 

Amid these tech and business layoffs, companies like Oberweis Dairy, which sells dairy-related items, reportedly filed for bankruptcy and announced plant closure. The company reportedly announced $4 million debt to unsecured creditors and nearly $14 million secured bank debt. The Oberweis Dairy layoffs will begin on June 11, 2024, as the company will let go of 127 employees. A biotech company, Ultimovacs, laid off 40% of its staff as its cancer vaccine failed in phase 2. Rivian Layoffs 2024: US-Based EV Company Cuts Nearly 1% of Its Total Workforce in Its Second Round of Layoffs This Year To Reduce Cost Amid Slow Electric Vehicle Demand.

Out of these layoffs at different companies, Toshiba announced the largest job cuts in Japan, cutting more than 5,000 jobs, nearly 10% of its workforce. Toshiba layoffs were reportedly implemented as the computers and electronics device-making company faced financial difficulties. According to reports, Toshiba laid off employees to focus on its main business and streamline operations. Recently, a wealth management company from the United States has also cut an "undisclosed" numbers of employees which also includes those who joined after acquisition of American Portfolios in 2022.

(The above story first appeared on LatestLY on Apr 18, 2024 04:44 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).