Tech layoffs: 98,000 impacted as Apple, Google, others continue job cuts
The tech industry faces widespread layoffs affecting 98,000 employees globally in 2024. Major companies like Apple, Google, Microsoft, and Meta are among the 333 firms implementing job cuts due to economic uncertainties and restructuring efforts.
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The tech industry has witnessed a significant wave of job cuts, affecting over 98,000 employees globally in the first half of 2024. Companies like Apple, Google, Microsoft, and Meta are among the 333 companies implementing these layoffs. Economic uncertainties have been cited as a major factor impacting the tech sector's workforce, with 39 companies laying off 9,742 employees in May alone. Google and Microsoft have been on a layoff spree, with Google letting go of nearly 200 employees and Microsoft laying off over 1,000 employees across various divisions. Job-search platform Indeed also laid off 8% of its workforce, while Toshiba announced plans to cut 4,000 domestic jobs. In India, companies like Paytm, eBay, Flipkart, and Swiggy have also made significant job cuts. The layoffs are attributed to various reasons such as restructuring efforts, cost-cutting measures, and realignment of priorities in response to economic challenges and market dynamics.
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