Come 2024, and the layoffs are ON!
Tech layoffs in 2023, which lost over 240,000 jobs were a big and sad boom with giants like Google, Yahoo, Amazon, and Meta shedding heavy workforce.
Come 2024, layoffs are still in motion, despite a strong job market!
Sub-topics
Layoffs 2024 (regularly updated)
Other Noteworthy Layoffs 2024
What Is Driving The Layoffs?
Bonus Content
Layoffs 2024 (regularly updated)
Globally 42324 employees across 167 tech companies lost their jobs in 2024. Tech giants such as Google, Amazon, and Unity are among the first tech giants to do some heavy workforce slashing. Why? To prioritize cost-cutting, enhancing efficiency, and adjusting to an uncertain labor market. Despite the U.S. unemployment rate maintaining a historic low of 3.7%, recent months have shown a deceleration in job growth. The addition of new jobs in the last three months has all fallen below the 2023 monthly average!
Cisco
Cisco (CSCO) is the latest tech giant that declare plans to lay off 5% of its global workforce amounting to over 4000 employees, announced on the Valentine’s day. The company saw a 6% decline in its revenue for Q4 2023, and has made a lighter revenue forecast for this quarter and full-year 2024.
Zoom
Zoom (ZM), the star of the pandemic and a lifeline of remote workers is laying off 150 employees representing 2% of its current workforce. About a year ago, Zoom eliminated 15% of its workforce (1300 roles) in February 2023, and the CEO took a massive 98% paycut.
