The technology sector continues to face a significant wave of layoffs into 2024, building upon the notable reductions seen in both 2022 and 2023. So far, the current year has witnessed the loss of 60,000 positions from 254 different firms, as reported by the independent tracker Layoffs.fyi. Major industry players including Tesla, Amazon, Google, TikTok, Snap, and Microsoft have all executed considerable layoffs in the early months of 2024. Small startups haven’t been spared, with many cutting jobs and some even ceasing operations entirely.
Monitoring these layoffs helps us grasp the broader implications for innovation across the tech landscape, both in large corporations and smaller startups. It also sheds light on how the adoption of AI and automation technologies might be reshaping the job market, even affecting roles once thought to be secure. Moreover, the ongoing job cuts serve as a stark reminder of the human toll behind technological progress and the pursuit of heightened innovation.
Below is an exhaustive list of all the confirmed tech sector layoffs happening in 2024, which will be consistently updated. For tips on layoffs, please get in touch. You can choose to remain anonymous if you prefer.
July 2024
Kaspersky
Plans to discharge numerous employees and exit the U.S. market entirely in response to a U.S. government directive that prohibited the sale of the company’s software due to security concerns.
Salesforce
Dismissed around 300 staff members as part of its broader efforts to decrease costs and optimize operations.
Intuit
Announced the termination of 1,800 positions, affecting 10% of its employees. The company cites performance issues for more than half of these layoffs and plans to replace the lost roles rather than cutting expenses.
UiPath
Initiates a reduction of 420 jobs, which comprises 10% of its workforce, as part of a significant organizational reshaping.
UKG
Cuts an estimated 2,200 roles, which is nearly 14% of its employees, as the software company aims to reallocate resources towards key areas of product innovation.
OpenText
Is executing a cut of about 1,200 positions, marking almost 2% of its workforce, in a plan to significantly slash costs by 2025.
Unacademy
Proceeds with dismissing roughly 250 employees in its latest round of reductions as schools reopen in India, lifting pandemic-induced lockdowns.
Koo
Decides to halt its operations after its last-ditch sale negotiations with Dailyhunt fell through.
Upside Foods
Cut its team by 26 individuals, as shared by CEO Uma Valeti, citing a dip in venture capital funding for the lab-grown meat sector.
Sightful
Laid off 20 staff members, amounting to a third of its total workforce, as the firm turns its focus towards software development.
June 2024
… [the document continues]
Compiled by Techarena.au.
Fanpage: TechArena.au
Watch more about AI – Artificial Intelligence
