Tech Layoff 2024: Google Confirms Firing 1,000 People in Recent Weeks Due to AI Reorganisation, Over 7,500 Employees Fired in Early January 2024 by 46 Other Companies, Say Reports
In the beginning of 2024, over 7,500 employees were let go by about 46 tech and IT firms due to new technologies like generative AI. These technological advancements are potentially replacing many jobs worldwide. Check for further details here.
New Delhi, January 15: Tech layoff 2024 has become a significant concern as the new year follows with a wave of job cuts across the IT and tech sector. In just the first two weeks of January, over 7,500 employees have been let go by 46 different companies. This is part of a larger pattern that has seen tech giants reevaluating their workforce amidst technological advancements. These layoffs have various factors, including the rise of generative AI (GenAI), which exposes the risk of replacing millions of jobs worldwide.
As per a report by DNA India, the layoffs are a continuation from the previous two years, when more than 425,000 employees were terminated globally. In India alone, the figure stands at over 36,000 within the same timeframe. The start of 2024 saw the online rental platform Frontdesk laying off its entire 200 employees during a brief Google Meet call. Artificial Intelligence To Affect 40% of Global Jobs, 60% in Advanced Economies: Report.
The situation is particularly for IT and tech companies, including startups, which have been seeing layoffs. A website that tracks tech sector job cuts, layoff.fyi, reported that 46 tech companies had laid off 7,528 employees by January 14. Among the notable companies making significant cuts is Unity. The gaming company announced a 25% reduction in its workforce, which is about 1,800 employees. Other major tech giants like Amazon's Audible and Disney-owned Pixar are also set to reduce their staff numbers. Amid these layoffs, Google has also confirmed to lay off its employees. Discord Layoffs: Employee of Popular Instant Chat Platform Records Herself Getting Laid Off, Says ‘I Just Bought a House’ (Watch Video).
As per a report by India Today, Google has confirmed to lay off over 1,000 employees in recent weeks as part of an AI reorganization. The IT and technology sector is going through tough times as employees are facing an uncertain future. Amazon and Meta have joined Google in announcing new rounds of job cuts. Amazon's Prime Video and MGM Studios division, along with its subsidiary Twitch, have also disclosed layoffs as part of cost-cutting, restructuring and performance measures.
(The above story first appeared on LatestLY on Jan 15, 2024 03:20 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).