Thousands of employees are being laid off all around the world in the tech companies and the companies are employing various techniques for the same which range from silent layoffs and voluntary retirement layoffs, to encouraging the employees to resign, or at worst, informing them via email.
Due to restructuring of their business, majority of the companies reduced their workforce as well.
Over 141,000 Employees Caught in the Global Tech Layoffs Crossfire
As per the tech and start-ups layoff tracker, Layoffs.Fyi website, as many as 1,41,145 employees have been laid off across 470 companies. Now this month, tech giant Meta has introduced its latest round of layoffs after the restructuring of its business and has reduced its workforce from WhatsApp and Instagram.
The exact numbers of the layoffs have not been disclosed by the company and it was said to be done on the grounds of reallocation of business resources to achieve strategic goals.
Another company, Pocket FM, which is an audio entertainment platform, laid off 50 employees amid business realignment.
British tech company Dyson also laid off employees from its global headquarters located in Singapore without any prior notice.
There are other companies in the list as well. Online video streaming giant, Netflix, has also reduced its workforce amid PR reorganisation and making adjustments to their business model by streamlining operations. Netflix reportedly cut 15 jobs from its film department.
Widespread Layoffs Continue: Kaspersky, Nokia, Amazon, and Others Cut Jobs Amid Restructuring
Some of laying off people in the offices, while others are shutting shops. Russian cybersecurity firm Kaspersky reportedly planned to lay off its London staff and close the UK office.
2,000 employees in Greater China and 350 employees in Europe were laid off by Finnish tech giant Nokia as a part of cost-cutting measures. Insurance company IAG is also reported to be planning 200 job cuts as a part of the business restructuring.
All is not well for Amazon as well, with the CEO Andy Jassy sharing plans of the e-commerce giant to cut 14,000 managerial roles by Early 2025, saying that the move could save USD 3 billion for the company.
By the end of October 2024, Intel also plans to cut hundreds of jobs.
As per the latest reports, some companies, like PhonePe, have reportedly laid off 60% of their customer support staff in five years’ period due to the adoption of AI (artificial intelligence).
