TechnologyBusiness

Tech companies announce massive layoffs in 2024

Layoffs affecting nearly 100,000 workers highlight ongoing challenges facing technology industry

Major tech companies have announced significant layoffs since the beginning of 2024, affecting nearly 100,000 workers worldwide, according to data from layoffs.

In total, 344 companies tracked by the website have laid off or announced plans to lay off 99,672 workers since the beginning of the year. This wave of layoffs, according to companies, is part of a broader effort by tech giants to cut costs and improve efficiency.

US automaker Tesla has laid off 14,000 employees, or 10% of its workforce. CEO Elon Musk stressed the importance of looking at every aspect of the company to cut costs and improve productivity, the New York Times reported.

Google, which is part of the Alphabet conglomerate, has cut more than 1,300 jobs. Company spokeswoman Courtenay Mencin said the layoffs were aimed at making the company more efficient and improving overall performance, according to tech platform The Verge.

Microsoft, based in Washington, has laid off 2,900 employees as part of an execution plan to establish a sustainable cost structure. Phil Spencer, CEO of Microsoft Gaming,cited the need to support the company’s growing business as the reason for the layoffs, The Verge reported.

Dell, another American tech company, announced 6,000 layoffs as part of a broader cost-cutting initiative that includes limiting outside hiring.

Toshiba, the Japanese electronics company, laid off 4,000 workers as part of a restructuring following its acquisition by a consortium.

These layoffs highlight the ongoing challenges facing the technology industry as companies strive to balance growth with efficiency and cost management.

Source: aa

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