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Mumbai, November 7: Tech layoffs this year has affected thousands of employees as the companies the industry adopt restructuring, cost reduction practices and artificial intelligence among other reasons. The IT layoffs have initiated by the tech giants have already affected 1.43 lakh people.
The staggering numbers are due to tech leaders like Samsung, X, TikTok, Mozilla, Qualcomm and others have tried reducing their workforce in 2024 amid several reasons. According to a layoffs tracking website, Layoffs.Fyi, so far 493 tech companies have laid off around 1,43,209.
In 2023, the number was much higher as 1,193 companies cut 2,64,220 position throughout the year. This year, the companies like Elon Musk's X (formerly known as Twitter), Mozilla, Samsung and others have cut employees; the details of which are mentioned below. Tech Layoffs 2024: List of Companies That Laid off Employees Samsung annoucned reduction of its global workforce this year in multiple countries including India.
The South Korean tech giant aimed to reduce 30% of its overseas workforce and lay off around 1,000 employees ahead of the festive season. The Samsung layoffs were aimed at improving overall efficiency. Freshworks, an Indian software has recently announced cutting 660 employees, nearly 13% of its workforce amid restructuring and cost-cutting.
The Freshworks layoffs will affect staff in the United States, India and other countries. X layoffs were announced last week by the platform affecting unspecified numbers of people from engineering department. The reports said the owner Elon Musk was busy with US Presidential Elections 2024 helping Donald Trump; however he sent email to the staff announcing the job cuts.
Firefox browser-developer Mozilla announced a fresh round of layoffs this year amid restructuring program. The Mozilla layoffs were aimed to reduce 30% of the staff from The Mozilla Foundation, a non-profit arm of the company. British multinational accounting firm laid off 4% of its workforce to align its workforce's size, shape and skills with the market needs, as said by multiple reports.
KPMG layoffs affected around 330 employees. Chinese short-video hosting platform TikTok laid off several employees this year. In October 2024, the TikTok layoffs affected 500 people in Malaysia as the company announced its shift towards AI (artificial intelligence).
(The above story first appeared on LatestLY on Nov 07, 2024 04:19 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com ).
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