Tech companies job cuts have continued in the second half of 2024, with several major layoffs occurring across the industry. IBM initiated a new round of layoffs, primarily affecting senior programmers, sales, and support personnel, as part of their “workforce rebalancing” effort. Microsoft laid off 650 employees from its gaming division, focusing on corporate and support roles.Even smaller startups like Dozee and WeTransfer implemented layoffs to reduce losses. These cuts span across various tech sectors, affecting both large corporations and smaller companies, highlighting the ongoing challenges and restructuring efforts in the tech industry throughout 2024.
Cisco notifies the affected 5,600 employees of layoffs
Cisco, following its second round of layoffs in 2024, announced a 7% workforce reduction in August, affecting approximately 5,600 employees. This comes after an earlier layoff in February that impacted around 4,000 employees. Notably, Cisco delayed notifying the affected staff until September 16, without providing a reason. An employee reported a toxic work environment during this period. The layoffs also impact Talos Security, Cisco’s threat intelligence and security research unit. Cisco justified the layoffs, stating that they would facilitate investments in growth opportunities and efficiency.
IBM is cutting thousands of jobs for the second time in 2024
After the previous round of layoffs in the beginning of the year, IBM has initiated a new round of layoffs, primarily affecting senior programmers, sales, and support personnel. The layoffs are part of a previously disclosed “workforce rebalancing” effort, are expected to affect a low single-digit percentage of IBM’s global workforce. IBM expects to exit 2024 with roughly the same level of employment as it entered.
Microsoft lays off 650 employees in Xbox division
Microsoft is laying off 650 staff from its gaming business, primarily in corporate and support roles, to align its post-acquisition team structure. The layoffs, which follow previous cuts, do not impact game cancellations or studio closures. Despite Xbox console sales plummeting, gaming revenue remains strong due to the acquisition of Activision Blizzard.
Dell says it’s continuing job cuts this year
Dell Technologies plans to continue reducing its workforce in 2024 due to cost concerns and a slow rebound in PC demand. The company is focusing on expanding its AI server business, which has excited investors but faces profitability challenges due to expensive computer chips.
Qualcomm lays off over 200 employees
Qualcomm, a chipmaker for smartphones, plans to lay off 226 employees in San Diego later this year. This decision comes less than a year after the company let go of over 1,250 workers.
Udemy to cut 50% staff
Udemy plans to reduce its workforce by half as part of its restructuring plan, with the intention of rehiring employees in lower-cost regions.
WeTransfer cuts 75% jobs after acquisition
Bending Spoons plans to lay off 75% of WeTransfer staff after acquiring the company in July. The layoffs are part of Bending Spoons’ strategy to operate acquired companies profitably, as seen in previous acquisitions such as Evernote and Meetup.
Bengaluru-based startups cuts jobs to reduce losses
Dozee, a healthtech startup, laid off around 40 employees to reduce losses. Despite having a presence across India, revenue growth has been slow, with losses increasing significantly. The startup is now focusing on expanding into the US market and other international regions.