Tech layoffs cross 70,000 in April 2024: Google, Apple, Intel, Amazon, and these companies cut hundreds of jobs | - Times of India

🌈 Abstract

The article discusses the wave of mass layoffs that impacted some of the world's biggest tech companies, including Tesla, Google, and Apple, in April 2024. It provides details on the number of employees affected and the reasons behind the layoffs.

🙋 Q&A

[01] Mass Layoffs in Tech Companies

1. What were the key details of the mass layoffs in tech companies in April 2024?

• Over 20,000 employees lost their jobs at major tech companies like Tesla, Google, and Apple.
• Until April 2024, tens of thousands of jobs were cut, with over 70,000 people being impacted in the tech sector.
• Apple laid off 614 employees, primarily from its special projects group, including those working on the now-cancelled self-driving car project.
• Google laid off employees across teams, including those working on Python, Flutter, and Dart.
• Amazon cut hundreds of jobs in its cloud computing division, affecting sales, marketing, and technology teams.
• Intel laid off around 62 employees at its headquarters in Santa Clara, California.
• Ola Cabs laid off around 10% of its workforce, or 200 employees, and its CEO Hemant Bakshi resigned.
• Healthifyme laid off 150 employees, about 27% of its workforce, in a restructuring exercise.
• Whirlpool fired around 1,000 salaried employees globally as part of its cost-cutting efforts.
• Take-Two Interactive, the publisher of GTA 6, laid off around 5% of its workforce and cancelled several projects in development.
• Telenor, a telecom company based in Norway, announced that it is sacking 100 employees and significantly reducing the number of temporary staff and consultants in its Norwegian unit as part of a reorganization.

[02] Reasons for the Layoffs

1. What were the main reasons behind the mass layoffs in the tech sector?

• The layoffs were primarily driven by factors such as weakening sales, intensifying price competition, funding crises, and the need to streamline and focus on core business objectives.
• For example, Tesla's layoffs aimed to reduce its global headcount by around 10% as the company tried to rein in costs amid weakening sales and intensifying price competition.
• Byju's, an edtech company, laid off around 500 employees due to a funding crisis and unrest among investors.
• Amazon's layoffs in its cloud computing division were part of the company's effort to streamline targeted areas and focus on core business objectives.