Stay updated latest tech layoff news. Since the start of 2024, over 140 tech companies have conducted layoffs. These firms have cut over 34,000 jobs, highlighting the dynamic nature of the sector as companies navigate towards emerging technologies while reorganizing their operational strategies.
According to Layoffs.fyi, a platform dedicated to tracking workforce changes in the tech industry, over 140 tech companies have cut more than 34,000 jobs as they reorganize their workforces.
In the rapidly evolving landscape of the technology sector, staying informed about the latest developments is crucial for all stakeholders. Companies are strategically reallocating resources to seize opportunities in new technological domains, particularly focusing on generative artificial intelligence (AI). With a forward-looking approach aimed at enhancing future competitiveness and expansion, firms are reshaping their workforce configurations to better align with evolving market dynamics and technological advancements.
Autumn Mitchell, a quality assurance tester at Microsoft video game subsidiary ZeniMax, said: “Anybody working in tech or games right now is worried about lay-offs to some degree, either for themselves or someone they know…You see one company announce lay-offs and think ‘Here we go, who’s it going to be next week?’” (Source: Financial Times)
Noticeable Tech Layoff News from the Start of 2024
Zoom Lays off about 150 jobs
Zoom cut about 150 jobs which represents less than 2% of its total workforce. The company clarified that the layoffs are not across the entire company and emphasized its ongoing recruitment efforts for roles in artificial intelligence, sales, product development, and various operational areas throughout 2024.
Salesforce Cuts 700 workers
Salesforce laid off 700 workers, which accounts for about 1% of its workforce. Nonetheless, the company is said to be actively seeking to fill 1,000 vacant positions across various departments, suggesting that the layoffs may represent a shift in the company’s staffing strategy.
Proofpoint Cuts about 280 Employees
Cybersecurity firm Proofpoint is cutting around 280 jobs worldwide, about 6% of its workforce, to set itself up for future success as a top-tier business operating efficiently on a large scale.
The company emphasized that this decision is based on its forward-thinking strategy of aligning investments and hiring with strategic goals, expanding operations by tapping into a global talent pool, and simplifying the organization with fewer management levels.
Paypal Lays off around 2500 Jobs
PayPal intends to cut about 9% of its global workforce by the end of the year, including direct layoffs and not filling open positions. They’re making these changes to adjust the size of their business for better agility in meeting customer needs and fostering profitable growth. While doing so, they’ll also keep investing in areas they expect to drive and boost growth.
SAP Announces Restructuring 8000 Jobs
SAP announced a restructuring of positions for 8,000 jobs, aiming to prioritize growth in AI-driven business sectors. The company stated it will allocate 2 billion euros ($2.2 billion) towards the initiative, either providing AI training for current employees or offering voluntary redundancy options for those affected.
SAP, aiming to maintain its current workforce levels by the end of 2024, began testing OpenAI’s ChatGPT as soon as the generative AI technology gained popularity. Last year, they announced intentions to incorporate it into their products ahead of time.
Update: Latest Tech Layoff News
DocuSign Cuts 6% of the Workforce
Last week, on Feb 6, DocuSign cut 6% of its workforce as part of a plan to enhance the company’s financial and operational effectiveness. The company mentioned that most of the affected employees are from its sales and marketing departments. DocuSign anticipates completing the restructuring plan by the end of the second quarter of its fiscal year 2025.
Grammarly Lays off 230 Employees
On Feb 7, Grammarly announced to cut around 230 members from their worldwide team. This choice aligns with Grammarly’s goal of providing helpful AI writing assistance to individuals and workplaces worldwide.
Their business is expanding and staying profitable, and they’re actively hiring across different areas and positions worldwide. They view significant potential as every individual and business begins to harness the power of AI. AI will revolutionize workplaces, and Grammarly aims to be at the forefront of this transformation.
Conclusion
Tech layoff news underscores the industry’s dynamic nature and the constant need for companies to adapt to evolving market conditions. While these actions may be necessary for companies to remain competitive and pursue future growth opportunities, they also contribute to a climate of uncertainty and concern among tech workers.
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