2024 tech industry experiences widespread layoffs, affecting 124,517 employees from 384 companies globally.

2024 has seen a wave of tech layoffs, with over 124,517 employees from 384 companies globally losing their jobs. In July, 8,000 professionals were laid off across 34 tech companies. Intel plans to cut 15% of its workforce (15,000 employees) as part of a $10bn cost-reduction strategy by 2025. Microsoft, UKG, Intuit, Dyson, and Kaspersky also conducted layoffs. The reasons for these layoffs include economic pressures, restructuring, failed acquisitions, and challenges in capitalizing on AI trends.

August 05, 2024
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