According to Layoffs.fyi, a layoff tracking platform AccordingBy the month of June 2024, about 99,672 employees have been fired from their jobs. Among these employees AppleMore than 344 companies are involved, including tech giants like Google, Microsoft and Meta. A large number of these companies include those that have been continuously cutting jobs since the time of Covid. Even though the main reasons for these layoffs have not been revealed, one of the many reasons can certainly be the tremendous growth in AI technology.
While giants like Twitter (now known as X) and Meta have been around for the past few years, are laying off This year the figure seems to be bigger because only half of the year has passed. For comparison, according to the tracker, 263,180 employees were fired by 1,191 tech companies in 2023 and 165,269 people were laid off by 1,064 tech companies in 2022. In such a situation, reaching the number of one lakh while reaching the middle of the year is a matter of concern.
At the same time, companies of Indian origin are also included in the layoffs, some of the big names in which are Flipkart, Simpl, OlaScaler, Byju’s and Swiggy. The 23 companies headquartered in India have together laid off more than 1,600 employees so far in 2024, with Flipkart alone laying off 1,100 employees.
Earlier this month, Microsoft reportedly laid off more than 1,000 employees across various businesses, including its Azure Cloud division and mixed reality unit, citing the company’s strategic mission. At the same time, Microsoft reduced 1,900 jobs mainly from its gaming division after the acquisition of Activision Blizzard.