A tsunami of layoffs has hit the technology sector. IT companies around the world are busy firing their employees. In fact, jobs are being put at stake by shutting down some divisions of their global operations. Last month, i.e. in August, more than 27 thousand employees lost their jobs.
Big name companies like Intel, IBM, and Cisco Systems have laid off their employees. Let’s find out which companies have laid off how many people last month. More than 40 companies in the tech sector have announced layoffs in August.
1.30 lakh people have lost their jobs so far this year
Let us tell you, so far in the year 2024, more than 1.36 lakh tech professionals have been fired. In August, Intel, one of the world’s largest chip manufacturing companies, laid off 15 percent of its total workforce i.e. 15 thousand employees. The company has taken this step to reduce costs by $ 10 billion by 2025.
Intel has been forced to take such difficult decisions to cut costs and make major changes in its strategy. After this, Cisco Systems, a big name in the world of networking, has also announced the layoff of 7 percent of its workforce i.e. 6000 employees.
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The company’s focus is now on Artificial Intelligence (AI) and Cyber Security sectors. Apart from this, among the big companies that have announced layoffs, IBM has shut down its R&D operations in China and laid off more than 1000 employees.
Layoffs in Apple company
iPhone maker Apple has laid off 100 employees from its services group. Dell has also decided to cut its global workforce by 10 percent, which may affect 12,500 employees.
GoPro has also eliminated 15 percent of its workforce i.e. 140 jobs. This phase of layoffs in the technology sector is likely to continue in the future as well. This number may increase. In such a situation, the increasing number of unemployed people can become a cause of big trouble.
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