Mumbai, December 31: 2024 was the year of AI innovations and technological advancements, such as space exploration, research, 4G and 5G network upgrades, and more. Amid these significant developments, some companies in the tech, automobile, news media, and other sectors have laid off thousands of employees amid their struggles. Companies have laid off employees to save costs, adopted AI and automation, restructured their business, experienced intense competition globally, and more.

This year, Tesla, Intel, Dell, Meta, Amazon, Google, Microsoft, Salesforce, X, Cisco, Spotify, IBM, HP, AMD, and other major tech companies announced their massive layoff rounds, cutting thousands of jobs amid facing significant challenges and transformation as technology advanced. According to a job cuts tracking website, Layoffs. fyi, 542 companies laid off 1,51,484 employees in the tech and other industries this year. Tech Layoffs 2024: 539 Companies Let Go 1,50,034 Employees This Year; Yahoo, AMD, Ola Electric and Others Latest to Layoff Staff From November to December.

List of Layoffs and Tech Layoffs Announced in 2024

  • According to reports, meta layoffs this year affected nearly 10,000 jobs amid Mark Zuckerberg's company's focus shift and significant restructuring.

  • Amazon announced it would cut around 14,000 jobs to streamline operations, reduce bureaucracy, and improve quick decision-making.

  • As per the reports, Tesla reportedly laid off 20,000 employees this year in two rounds. The first round reduced the workforce by 14,000 individuals, with the remaining remaining in the other rounds.

  • Intel announced laying off 15,000 global employees amid ongoing chip market struggles and artificial intelligence struggles.

  • Dell layoffs affected 12,500 (estimated) employees in 2024 from various departments.

  • AMD cut its workforce by reducing 1,000 jobs this year.

  • Cisco first laid off around 4,000 employees in February 2024 and 5,600 employees in August, for a total of 9,600 job reductions.

  • SAP announced that it would lay off around 8,000 employees as a part of restructuring efforts.

  • Uber layoffs were aimed at affecting 6,700 employees this year.

  • Xerox slashed 3,000 jobs this year as a part of restructuring.

  • Bell, a Canada-based telecom company, cut nearly 5,000 jobs in 2024

  • According to the reports, Microsoft laid off around 2,500 jobs this year.

  • BYJU's, amid ongoing struggles, fired 2,500 individuals from their positions this year.

  • Paypal, a fintech major, reduced 2,500 employees, cutting 9% from its workforce.

  • Boeing cut several positions this year from its global workforce amid struggles.

  • AMD layoffs affected 1,000 people from its workforce.

  • Spotify has let go of around 1,500 individuals on the team.

  • IBM announced it would cut 3,900 jobs, affecting 1.5% of the workforce.

  • Luminar Technologies laid off employees who are conducting a few rounds this year.

  • Stellantis, an automobile giant, cut jobs this year for various reasons.

  • Unilever cut 7,500 roles in 2024

  • Volkswagen layoffs reportedly were targeted to affect around 30,000 individuals.

  • Google announced its plans to slash thousands of jobs in 2025.

  • Paytm layoffs were announced, affecting 3,500 employees.

In addition to these companies, Paramount Global, ExxonMobil, Salesforce, X, and various other companies laid off hundreds and thousands of employees as part of restructuring, adoption of automation, artificial intelligence, mergers, and various other reasons. Year Ender 2024: From Launch of SpaDeX Mission to Successful Tests of Reusable Launch Vehicle ‘Pushpak’, Check List of ISRO Accomplishments This Year.

Among all these layoffs and tech layoffs, Reliance, India's retail giant, quietly cut around 42,000 jobs in the fiscal year ending March 2024.

(The above story first appeared on LatestLY on Dec 31, 2024 04:39 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).