{"id":1283033,"date":"2024-07-03T11:48:00","date_gmt":"2024-07-03T06:18:00","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1283033"},"modified":"2024-07-03T11:48:20","modified_gmt":"2024-07-03T06:18:20","slug":"344-tech-firms-have-fired-100000-employees-in-6-months-of-2024","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/344-tech-firms-have-fired-100000-employees-in-6-months-of-2024\/","title":{"rendered":"344 Tech Firms Have Fired 100,000 Employees In 6 Months Of 2024"},"content":{"rendered":"\n

As we know, the tech industry is experiencing a significant wave of job cuts, almost 1 lac employees got laid off from over 330 companies globally in the first half of 2024, according to the Layoffs.fyi<\/a>.<\/p>\n\n\n\n

\"344<\/figure>\n\n\n\n

Here Layoffs.fyi is a platform monitoring tech layoffs has recently reported that 98,834 employees have been affected with this wave.<\/p>\n\n\n\n

It is noteworthy here that the prominent companies including Apple, Google, Microsoft, and Meta are among the 333 companies implementing these job cuts.<\/p>\n\n\n\n

While all this is happening, the economic uncertainties continue to impact the tech sector in the meantime. <\/p>\n\n\n\n

A total of 39 companies laid off a total of 9,742 employees in May alone, as layoffs.fyi reported at the start of June.<\/p>\n\n\n\n

A Layoff Spree In Tech Industry<\/strong><\/h2>\n\n\n\n

American technology behemoth Google let go of nearly 200 employees from its core teams during May.<\/p>\n\n\n\n

This has primarily affected the engineering positions in Sunnyvale, California. <\/p>\n\n\n\n

This seems to be a part of Alphabet\u2019s broader downsizing plan, which was announced last year, aiming to reduce its workforce by about 6 per cent, according to the company.<\/p>\n\n\n\n

The other technology giant, Microsoft, also made significant cuts earlier in June.<\/p>\n\n\n\n

The IT service provider has laid off over 1,000 employees across various divisions, including the Azure cloud and mixed reality units. <\/p>\n\n\n\n

Further, most of these layoffs were within the Strategic Missions and Technologies organization.<\/p>\n\n\n\n

These units mainly focus on selling cloud software and server rentals to specialized businesses like telecom firms and space companies. <\/p>\n\n\n\n

Besides this, the IT company has also eliminated 1,900 jobs from its gaming division following the acquisition of Activision Blizzard.<\/p>\n\n\n\n

It won’t be an exaggeration to say that Microsoft has seen several executive departures as it restructures during this time.<\/p>\n\n\n\n

The other players like Job-search platform Indeed also joined the trend by laying off approximately 8 percent of its workforce in May 2024.<\/p>\n\n\n\n

These layoffs have primarily affected the employees in the United States. <\/p>\n\n\n\n

Notably, this marks the second round of layoffs in the company impacting research and development units.<\/p>\n\n\n\n

These were among other teams responsible for delivering products to customers.<\/p>\n\n\n\n

In the meantime, the Japanese technology giant Toshiba announced its plans to cut 4,000 domestic jobs.<\/p>\n\n\n\n

Again this is a part of its restructuring efforts, amounting to 6 percent of its local workforce. <\/p>\n\n\n\n

There are speculations that Toshiba has plans to move some office functions from central Tokyo to Kawasaki, a city west of the capital.<\/p>\n\n\n\n

How Does It Affect The Indian Technology Industry?<\/strong><\/h2>\n\n\n\n

Indian technology companies are not much behind as the Fintech firm One97 Communications, the parent company of Paytm, confirmed the layoff of an undisclosed number of employees on June 10. <\/p>\n\n\n\n

Nearly 3,500 employees were handed pink slips, bringing the total headcount to 36,521 by the end of the March 2024 quarter, as per the media report<\/p>\n\n\n\n

Next is ReshaMandi, which is a B2B marketplace specializing in silk products.<\/p>\n\n\n\n

It had laid off 80 percent of its employees after failing to secure Series B funding. <\/p>\n\n\n\n

The other retail and food delivery giants such as eBay, Flipkart, and Swiggy have also made job cuts to realign their priorities. <\/p>\n","protected":false},"excerpt":{"rendered":"

As we know, the tech industry is experiencing a significant wave of job cuts, almost 1 lac employees got laid off from over 330 companies globally in the first half of 2024, according to the Layoffs.fyi. Here Layoffs.fyi is a platform monitoring tech layoffs has recently reported that 98,834 employees have been affected with this […]<\/p>\n","protected":false},"author":27,"featured_media":1283036,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22],"tags":[840],"class_list":["post-1283033","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-tech-layoffs"],"acf":[],"yoast_head":"\n344 Tech Firms Have Fired 100,000 Employees In 6 Months Of 2024 - Trak.in - Indian Business of Tech, Mobile & Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/344-tech-firms-have-fired-100000-employees-in-6-months-of-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"344 Tech Firms Have Fired 100,000 Employees In 6 Months Of 2024 - Trak.in - Indian Business of Tech, Mobile & Startups\" \/>\n<meta property=\"og:description\" content=\"As we know, the tech industry is experiencing a significant wave of job cuts, almost 1 lac employees got laid off from over 330 companies globally in the first half of 2024, according to the Layoffs.fyi. 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