46 tech companies let go over 7,500 employees in first 2 week into NY

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IANS | 15 Jan, 2024
In just two weeks into the New Year, at least 46 IT and tech companies (including startups) have laid off more than 7,500 employees and the number is growing by the day, as generative AI (GenAI) threatens millions of jobs.

The global layoffs, which continued even in the holiday season late last year, are set to impact the Indian workforce once again.

According to the latest data from layoff.fyi, a website that tracks tech sector job cuts, 46 tech companies laid off 7,528 employees (till January 14).

Tech companies, including startups, around the world fired more than 425,000 employees in 2022 and 2023, with more than 36,000 employees being sacked in India in the same time frame.

Online rental platform Frontdesk became the first tech startup to lay off employees in 2024 -- its entire 200-person workforce -- during a “two-minute Google Meet call”.

Gaming company Unity announced to lay off 25 per cent of its workforce, or about 1,800 employees, in its fresh job cut round.

Google last week confirmed it has cut several hundred jobs across hardware, core engineering and Google Assistant teams.

The layoffs will impact employees in Google’s hardware and central engineering teams, as well as workers across Google Assistant, according to reports.

“To best position us for these opportunities, throughout the second half of 2023, a number of our teams made changes to become more efficient and work better, and to align their resources to their biggest product priorities,” a Google spokesperson had said in a statement.

“Some teams are continuing to make these kinds of organisational changes, which include some role eliminations globally,” the company added.

Amazon-owned audiobook and podcast division Audible is laying off 5 per cent of its staff, more than 100 employees, as part of overall job cuts at the e-commerce giant.

Meta started the New Year with laying off some technical programme managers (TPMs) at Instagram and reports said that at least 60 such jobs were either being consolidated or eliminated.

Global data management solutions provider Veeam Software has reportedly laid off 300 employees.

Disney-owned animation studio Pixar is also set to cut jobs this year, the media reported.

Global banking major Citigroup will reduce 10 per cent of its workforce, or about 20,000 employees, in the next two years in a major corporate overhaul.