The tech industry continues to grapple with layoffs, with news of new job cuts surfacing every month. So far, a total of 237 tech companies have laid off 58,499 employees in 2024. Companies like Apple, Microsoft, Dell and Amazon are all continuing restructuring exercises and reducing their workforce even after laying off thousands of employees last year in mass layoffs. While the first quarter of 2024 witnessed short cycles of job cuts, April appears to be no different.
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Apple recently laid off over 600 employees, and Microsoft followed suit by announcing cost-cutting measures. Similarly, Amazon, which has experienced consistent monthly layoffs this year, recently announced more job cuts. While tech companies are not announcing massive layoffs like in 2022-23, the numbers for layoffs in the tech industry in 2024, according to LayoffFYI, a website tracking layoffs at companies, remain stark. The site reveals that in January 2024, 19,350 employees were laid off, while in February this number was 15,589. Last month in March, around 7,322 employees were laid off. And this trend seems to continue in April 2024.
Let’s have a brief look at all the recent job cuts announced by big tech heads.
Apple
Apple recently confirmed laying off over 600 employees, primarily in California, following the closure of its ambitious car project and the cancellation of the Apple Watch Ultra with MicroLED display. The layoffs were part of significant operational changes at the Cupertino-based company. Bloomberg’s Mark Gurman reported that 371 employees were affected at Apple’s main car-related office in Santa Clara, with additional layoffs occurring at various satellite offices.
The affected employees were reportedly involved in projects related to next-generation screen development and autonomous vehicle technology. However, the total number of job reductions may exceed the figures reported, as engineers from these projects were spread across different locations, including Arizona.
Microsoft
Microsoft is currently undergoing a significant restructuring under the leadership of Jared Spataro, with a strong emphasis on enhancing its Copilot AI products while concurrently streamlining resources for its Teams chat application. However, a part of this restructuring involves staff layoffs aimed at bolstering the company’s AI capabilities, reports Business Insider.
Amazon
Amazon has recently announced layoffs affecting hundreds of employees within its cloud computing arm, AWS, following a significant restructuring within the company. These layoffs are part of a broader realignment toward key focus areas, including physical stores, technology and sales and marketing divisions. While an AWS spokesperson confirmed the layoffs and assured support for affected employees in transitioning to new roles, the move reflects Amazon’s strategic adaptation to shifts in application usage within its stores and third-party outlets.
Despite the job cuts, AWS is also actively seeking internal opportunities for affected employees and continues to hire in other areas of its business, underlining its commitment to supporting its workforce amidst ongoing restructuring efforts initiated since 2022. Employees impacted by the recent layoffs in the US are entitled to pay and benefits for at least 60 days, along with severance packages, reflecting Amazon’s efforts to mitigate the impact on its workforce during this period of transition.
Byju’s
Indian ed-tech startup Byju’s, has also recently initiated a fresh round of layoffs affecting approximately 500 employees, as reported by The Economic Times. Employees are reportedly being informed of their termination over the phone, without the option of serving a notice period. The layoffs come amidst financial challenges for the company, which is striving to maintain smooth operations amid funding constraints.
Sources familiar with the matter revealed to the publications that a significant number of the affected employees, around 240, were employed in Byju’s Tuition Centre operations, with others belonging to various business verticals such as K-10 and examination preparation. Byju’s spokesperson mentioned that these layoffs are part of a broader business restructuring initiative announced in October 2023 aimed at simplifying operations, reducing costs, and improving cash flow management.
Dell
Dell also recently underwent significant layoffs as part of its cost-saving measures. Reports from Reuters revealed that the company’s workforce has decreased from 126,000 to approximately 120,000 employees over the past year, suggesting that up to 6,000 employees may have been affected by the recent job cuts. The decision to downsize comes amidst challenges stemming from sluggish computer sales, which contributed to an 11 percent decline in revenue in the last quarter. This restructuring reportedly reflects Dell’s efforts to adapt to changing market conditions and optimise its operations to remain competitive in the technology industry.
