There have been increasing
job cuts
since 2023 which have continued into 2024. In 2023, over 240,000 jobs were lost, which was a 50% increase from the previous year. Despite some earlier slowdowns in
tech layoffs
, it seems that cuts are starting up again. Tech companies are now focusing more on efficiency rather than growth, and they are reducing their workforce due to the challenging market conditions.
Here are all the job cuts that happened in the tech industry in
January 2024
.
Frontdesk CEO fires all 200 employees on a 2-minute call
Frontdesk, a US-based prop-tech company, has fired all 200 employees, and CEO Jesse DePinto broke the news during a two-minute
Meet call. The company has decided to go for a state receivership instead of declaring bankruptcy.
Google cuts hundreds of jobs in tech, advertising and other divisions
Alphabet's Google has announced laying off hundreds of staff from its digital assistant, hardware, and engineering teams. Google has laid off hundreds of employees in its advertising sales team. A spokesperson for the company stated that "some teams are continuing to make these kinds of organisational changes, which include some role eliminations globally."
In an internal memo, CEO Sundar Pichai informed employees that more roles will be impacted by this year's layoffs, which are aimed at simplifying execution and driving velocity in some areas.
Alphabet's X Lab has also laid off dozens of workers and turned to outside investors for funding.
Microsoft lays off majority of Activision Blizzard staff
Microsoft is cutting 1,900 jobs from Activision Blizzard, Xbox, and ZeniMax, which is approximately 8% of the total Microsoft Gaming division. The layoffs are part of a sustainable cost structure plan to support the company's growing business. Mike Ybarra and Allen Adham, the Blizzard president and chief design officer, respectively, have left the company.
Amazon cuts jobs across various divisions
Amazon's various divisions have announced significant layoffs in their workforce. Audible, the online audiobook and podcast service, is letting go of 5% of its employees due to an increasingly challenging landscape. Amazon Prime Video is also laying off several hundred employees in its streaming and studio operations, whereas Amazon's streaming platform, Twitch, is reducing its workforce by 35% or around 500 employees. In January, Amazon’s Buy with Prime unit also laid off about 5% of its employees.
Xerox lays off 3,00 employees
Xerox, an IT company, has also announced a reduction of its workforce by 15%, which equates to about 3,000 employees. The company aims to introduce a new organisational structure and operating model.
Unity cuts 1,800 jobs
Unity Software, a provider of video game software, is cutting around 25% of its workforce, approximately 1,800 jobs, according to a regulatory filing. The company is aiming to focus on its core business and drive long-term success and profitability by reducing the number of things they are doing, as stated by interim CEO Jim Whitehurst memo to employees.
Discord laid off 170 employees
The social chat and messaging startup Discord is reducing the workforce by 17%. The company's founder and CEO, Jason Citron, sent an internal memo stating that around 170 jobs will be impacted by the layoffs.
eBay cuts 1,000 jobs as expenses grow
eBay is reducing its workforce by 9%, cutting around 1,000 jobs due to expenses growing faster than business. The company's CEO, Jamie Iannone, plans to streamline teams and enhance the end-to-end customer experience globally. eBay will also reduce some "alternative workforce" contracts. Managers will notify employees whose roles have been eliminated, and eBay staff will work from home on Wednesday for privacy.
Flipkart to let go of 1,000 employees as it restructures
Flipkart, the Indian e-commerce giant that is owned by Walmart, has announced that it will be laying off 1,000 employees as part of its annual performance review exercise. This represents about 5% of the company's workforce, which currently stands at around 22,000 employees. It's worth noting that this reduction in workforce is a standard process that the company goes through each year.
Swiggy lays off staff ahead of IPO listing
Swiggy, a food tech giant, has reportedly laid off 400 employees in a restructuring move. This will be the second round of layoffs for the company, affecting 7% of the workforce. Insiders say the tech, call centre, and corporate teams will be the most affected.
Valorant developer cut 500 jobs
Riot Games, the developer of "League of Legends" and "Valorant," is cutting 11% of its staff, around 530 jobs. CEO Dylan Jadeja explained that costs had spiralled out of control due to aggressive expansion. Riot will prioritise its "core" games and reduce the team size of "Legends of Runeterra" and wind down "Riot Forge."
TikTok cuts 60 jobs
TikTok laid off 60 workers from its advertising and sales division. The reason for the layoffs is undisclosed. However, affected employees can apply for other open positions at TikTok, which currently has over 120 job listings.
Salesforce announces 700 job cuts
Salesforce will be laying off 700 workers, which is about 1% of their 70,000 global workforce. This is an addition to last January's announcement that the company would be laying off 10% of employees, approximately 7,000.
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