27,000 tech jobs cut by major firms, including Intel, Cisco, and IBM, in 2024.

In August 2024, over 27,000 tech jobs were cut by major companies including Intel, Cisco, and IBM, contributing to a total of 136,000 layoffs across 422 firms this year. Intel announced a reduction of 15,000 positions due to disappointing earnings, while Cisco plans to cut 6,000 jobs to focus on growth areas like AI. IBM is closing its R&D operations in China, affecting over 1,000 employees. Other companies like Apple and GoPro also implemented layoffs.

September 05, 2024
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