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39 tech firms lay off 9,742 employees in May

Amidst the turbulence of economic uncertainties, layoffs continue to cast a shadow over the tech industry’s workforce. As many as 39 companies have laid off a total of 9,742 employees in May this year, reveals a report by tech layoffs tracker layoffs.fyi.

With this, as many as 89,333 employees have been laid off across 306 tech companies in 2024 so far. The report by the layoff tracker website states that there has been a decrease in layoffs in May, as compared to April when 21,473 layoffs were reported across 50 companies.

Google fires 200 employees
Google has reportedly fired nearly 200 employees from its core teams. These job cuts have reportedly affected engineering positions in Sunnyvale, California. The layoffs are part of the downsizing initiative that started last year when Alphabet announced its plan to reduce its workforce by about 6 per cent.

Indeed fires 1,000 employees
Job-search website Indeed laid off nearly 8 per cent of its workforce in May 2024, mainly affecting employees in the United States. This second round of layoffs impacted staff in the research and development units, as well as other teams responsible for delivering products to customers, the report said.

Toshiba laid off 4,000 employees
Toshiba announced plans to cut 4,000 domestic jobs as part of its restructuring efforts. This reduction accounts for 6 per cent of the company’s local workforce. In addition to these job cuts, Toshiba is planning to relocate some office functions from central Tokyo to Kawasaki, a city west of the capital.

TikTok fires over 1,000 employees globally
Popular short-video platform TikTok has laid off 1,000 employees worldwide, affecting staff in the operations and marketing teams. Although TikTok has provided limited official reasons for the layoffs, industry analysts have speculated on several potential factors. Some suggest it may be a cost-cutting measure, particularly in response to the constantly changing regulatory environment impacting social media giants, the report stated.

Walmart announces job cuts
Walmart is reportedly reducing its workforce and requesting employees at several tech hubs to relocate. These layoffs are expected to affect the company’s corporate staff, as the retail giant has been aiming to downsize its workforce for a while. The specific number of employees being laid off or asked to relocate remains unknown.

Microsoft’s gaming team witnesses layoffs
In May, Microsoft laid off employees within its gaming division. The technology giant reportedly shut down several developers, including Arkane Austin (known for Redfall), Tango Gameworks (Hi-Fi Rush), Alpha Dog Studios, and others. News reports indicate that some affected employees will be relocated, while others will need to leave the company. It remains unclear whether these layoffs are part of the job reductions announced by Microsoft earlier this year.

Tesla trims down workforce
Tesla, owned by Elon Musk, has terminated employees from its software, service, and engineering departments. The company has reportedly laid off over 6,700 employees across multiple locations, including Texas and California, the news report said. Business Standard

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