Tech Layoffs 2024: Samsung, Mozilla, X, TikTok, Qualcomm and Others Significantly Reduce Their Workforce This Year, Thousands of Employees Lose Jobs
Tech layoffs this year affected thousands of employees as they companies tried to adopt various strategies to reduce their costs, adopt business restructuring programs, automation and more. The companies include Samsung, X, Mozilla, TikTok, Qualcomm and others who have led the IT layoffs in industry.
Mumbai, November 7: Tech layoffs this year have affected thousands of employees as companies adopt restructuring, cost reduction practices, and artificial intelligence, among other reasons. The IT layoffs initiated by the tech giants have already affected 1.43 lakh people. The staggering numbers are due to tech leaders like Samsung, X, TikTok, Mozilla, Qualcomm, and others having tried reducing their workforce in 2024 for several reasons.
According to a layoffs tracking website, Layoffs. Fyi, so far, 493 tech companies have laid off around 1,43,209 employees. In 2023, the number was much higher, as 1,193 companies cut 2,64,220 positions throughout the year. This year, companies like Elon Musk's X (formerly known as Twitter), Mozilla, Samsung, and others have cut employees, the details of which are mentioned below. Freshworks Layoffs: 660 Employees To Be Laid Off As Indian Software Company Cuts 13% Workforce, CEO Dennis Woodside Explains Why.
Tech Layoffs 2024: List of Companies That Laid off Employees
- Samsung:
Samsung announced a reduction of its global workforce this year in multiple countries, including India. The South Korean tech giant aimed to reduce 30% of its overseas workforce and lay off around 1,000 employees ahead of the festive season. The layoffs were aimed at improving overall efficiency.
- Freshworks
Freshworks, an Indian software company, recently announced that it will cut 660 employees, nearly 13% of its workforce, amid restructuring and cost-cutting. The layoffs will affect staff in the United States, India, and other countries.
- Elon Musk's X
X layoffs were announced last week, affecting unspecified numbers of people from the engineering department. The reports said the owner, Elon Musk, was busy with the US Presidential Elections 2024 helping Donald Trump; however, he sent an email to the staff announcing the job cuts.
- Mozilla
Firefox browser developer Mozilla announced a fresh round of layoffs amid a restructuring program this year. The Mozilla layoffs aimed to reduce 30% of the staff from The Mozilla Foundation, a company's non-profit arm.
- KPMG
British multinational accounting firm laid off 4% of its workforce to align its workforce's size, shape and skills with the market needs, as said by multiple reports. KPMG layoffs affected around 330 employees.
- TikTok
Chinese short-video hosting platform TikTok laid off several employees this year. In October 2024, the TikTok layoffs affected 500 people in Malaysia as the company announced its shift towards AI (artificial intelligence).
- Alibaba
Alibaba layoffs affected thousands of employees in China as the e-commerce giant adopted plans of restructuring its business.
- Oracle
US-based software giant Oracle laid off several hundred employees from its cloud division.
- Bosch
Bosch layoffs were announced a few days ago as the German tech giant failed to achieve expected sales. The company would cut 7,000 people from the automotive supply sector.
- Qualcomm
Global chipmaker Qualcomm laid off 226 employees in San Diego to realign its resources for new business opportunities. Previously, it cut 1,250 jobs.
- Cisco
Cisco announced its fresh layoffs, affecting around 5,600 employees, 7% of the global workforce.
- Microsoft
Windows maker laid off 650 employees from its Xbox gaming division this year.
- iRobot
A US-based robotics company announced job cuts affecting 16% of its workforce in the latest round. So far, the iRobot layoffs have affected 50% of the workforce. iRobot Layoffs: US-Based Robotics Company Cuts 16% of Its Workforce in Latest Round Amid Restructuring, Total 50% This Year.
Besides these tech layoffs in 2024, the primary drivers were companies like Elon Musk's Tesla, which announced the layoff of nearly 16,000 employees as reported in May. Dell layoffs reportedly affected 12,500 employees. Intel layoffs, on the other hand, were announced to have affected 15,000 employees from various countries.
(The above story first appeared on LatestLY on Nov 07, 2024 04:19 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).