Layoffs in 2024
Following substantial employment losses last year, tech corporations and startups have continued to reduce their personnel this year.
1,187 tech companies laid off a total of 2,62,595 people last year. So far in January, 91 tech companies have laid off 24,564 employees.
Salesforce announced on Friday that it will lay off 700 people, joining a growing number of companies that have reduced their workforce in January.
This follows similar announcements from Alphabet and Amazon earlier this month.
The following is a list of major Indian and global companies that have declared layoffs.
Salesforce: According to the Wall Street Journal, Salesforce is cutting off approximately 700 employees, or roughly 1% of its global workforce, in the latest round of job layoffs to hammer the IT industry.
Google: Alphabet’s Google is cutting off hundreds of employees from its digital assistant, hardware, and engineering teams, the firm announced. Meanwhile, in an internal memo, CEO Sundar Pichai stated that Google will likely lay off additional staff this year. Pichai informed his employees that the job reduction will focus “on removing layers to simplify execution and drive velocity in some areas”. X Lab, Alphabet’s section for researching new technology, has laid off dozens of employees and turned to outside investors for cash. Google will also lay off 100 staff at its multimedia network YouTube.
eBay Inc will lose around 1,000 jobs, or about 9% of its present staff, the e-commerce firm announced on Tuesday.
Amazon: Audible, an Amazon-owned online audiobook and podcast service, is cutting off around 5% of its personnel. Meanwhile, Amazon announced in an internal statement that it will lay off several hundred staff in its streaming and studio divisions.
Twitch: According to Bloomberg News, Amazon’s streaming company Twitch wants to eliminate 35% of its workforce, or approximately 500 employees.
Discord, a social chat and messaging startup, informed employees on January 11 that it would reduce 17% of its workforce. The layoffs will effect around 170 people, according to an internal memo delivered by creator and CEO Jason Citron.
Xerox: On January 3, IT company Xerox said that it will decrease its workforce by 15%, or approximately 3,000 employees, to implement a new organisational structure and operational model.
Frontdesk, a proptech business situated in the United States, has fired all 200 of its employees. CEO Jesse DePinto announced the news during a two-minute Google Meet call.
Pixar: Walt Disney’s (DIS.N), opens a new tab Pixar Animation Studios is expected to slash positions after completing production on some shows and finding itself with more people than it needs, according to Reuters on January 12.
Riot Games: Tencent Holdings’ Riot Games intends to let off 530 employees, or around 11% of its global workforce, according to a blog post on Monday that included a letter to employees from CEO Dylan Jadeja.
Layoffs announced by Indian startups
Swiggy: Food and grocery delivery company Swiggy has begun another wave of layoffs as it seeks to cut expenses and increase profitability in the run-up to an initial public offering, according to individuals familiar. According to the sources, the company plans to reduce its personnel by 6%, affecting 350-400 roles across teams such as technology, call center, and corporate responsibilities. Senior officials have been briefed to undertake these layoffs gradually over the next few weeks.
Flipkart: According to sources, Walmart-owned Flipkart has launched a personnel reduction process, which could result in a 5-7% drop in total team size. This will be finished by March-April as part of the current performance assessment process, they stated.
Cult.fit: Fitness business Cult.fit has fired off 100-120 staff as part of a cost-cutting exercise, according to ET sources. Curefit Healthcare, the firm’s parent company, operates numerous brands including Sugar.fit, Carefit, and Cult.fit and is supported by Tata Digital and meal delivery giant Zomato.
Paytm: Last month, Paytm’s parent company, One 97 Communications, laid off around 1,000 employees across several businesses. According to one insider, the job losses occurred in recent months.
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