The rapid advancements in artificial intelligence (AI) have triggered widespread workforce reductions in the tech industry throughout 2024.
As companies restructured to integrate AI-driven efficiencies, nearly 100,000 employees were laid off, highlighting a seismic shift in workplace dynamics.
These layoffs reflect the ongoing challenges faced by tech giants as they adapt to economic pressures and evolving market demands.
In this article, Tribune Online examines the top seven tech companies that laid off employees in 2024.
1. IBM
One of the largest global technology firms, IBM, announced a second round of job cuts targeting senior programmers, sales staff, and support personnel under its “workforce rebalancing” strategy. Although the company aims to downsize a small percentage of its global workforce, it expects to end the year with a workforce size similar to its beginning.
2. Dozee
Popular health tech startup Dozee reduced its workforce by around 40 employees in India, citing efforts to mitigate financial losses. In a more drastic move, WeTransfer, following its acquisition by Bending Spoons, slashed 75 percent of its workforce as part of a strategy to boost profitability.
3. Cisco
Cisco, another industry giant, announced a 7 percent workforce reduction in August, resulting in 5,600 job losses. This was in addition to 4,000 positions eliminated earlier in February. Employees, including members of its Talos Security division, were notified of the September layoffs, and Cisco stated that the cuts were essential to remaining competitive in a rapidly evolving tech environment.
4. Microsoft
Microsoft also reduced its workforce, laying off 650 employees from its Xbox gaming division as part of restructuring efforts following its acquisition of Activision Blizzard. These layoffs, which primarily impacted corporate and support roles, were designed to streamline operations. Microsoft reassured stakeholders that the job cuts would not lead to game cancellations or studio closures.
5. Qualcomm
Qualcomm announced plans to lay off 226 employees in San Diego later in the year, adding to the 1,250 workers it had laid off less than a year prior. The layoffs were attributed to the company’s financial challenges.
6. Dell
Similarly, Dell Technologies extended its workforce reductions into 2024, prioritising cost management amidst sluggish PC demand recovery.
7. Udemy
Online education platform Udemy revealed plans to cut 50 per cent of its workforce, intending to rehire employees in regions with lower operational costs. This move forms part of a larger restructuring initiative aimed at streamlining operations.
ALSO READ TOP STORIES FROM NIGERIAN TRIBUNE
