Job Loss in Tech companies touches 89,000

Job Loss in Tech companies touches 89,000

NEW DELHI: While the tech sector companies experienced job losses throughout 2024, May month saw a notable decrease compared to previous months. According to layoffs.fyi, a website tracking global job cuts, 39 companies laid off a total of 9,742 employees in May. This represents a significant drop from April’s reported 21,473 layoffs across 50 companies.

Google fired around 200 employees from its Core teams. These job cuts have reportedly impacted engineering positions in Sunnyvale, California. The layoffs are reportedly part of the downsizing effort that began last year when Alphabet announced plans to reduce its workforce by about 6%.

The job-searching website Indeed nearly fired 8% of its workforce in May, 2024. The layoff primarily impacted the US employees of the company. The second round of layoffs affected employees in the research and development units, as well as other teams responsible for delivering products to customers.

Toshiba announced 4,000 job cuts domestically as part of company’s restructuring efforts. The job cuts represent 6% of Toshiba’s local workforce. Along with this job cuts, the company is also planning to move some office functions from central Tokyo to Kawasaki, a city west of the capital.

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Popular short-video platform, TikTok fired 1,000 employees globally. The layoff impacted employees from the operations and marketing teams. Although TikTok has given limited official reasons for the layoffs, industry analysts speculate on several potential factors. Some suggest it may be a cost-cutting measure, particularly in response to the constantly changing regulatory environment affecting social media giants.

Walmart is reportedly cutting jobs and asking employees at various tech hubs to relocate. These layoffs are expected to impact the company’s corporate employees, as the largest retailer has been trying to reduce its workforce for some time. The exact number of employees being laid off or asked to relocate is not yet known.

The month of May witnessed job cuts in the gaming division of Microsoft. The tech giant reportedly closed multiple developers including the including Redfall developer Arkane Austin, Hi-Fi Rush developer Tango Gameworks, Alpha Dog Studios and more. A report by IGN claims that some of the affected employees will be relocated and others will have to depart. It is not clear whether the latest layoffs are a part of the job cuts announced by the company earlier this year.

Elon Musk-owned Tesla fired employees from software, service and engineering departments. As per a report, the company laid off more than 6,700 employees in multiple locations including Texas, California and more.

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