Since the onset of the Covid pandemic, the tech and IT industry has been taking multiple hits at regular intervals. The brunt of this attack is being borne by employees as companies, including tech giants, are firing workers at an elevated rate.
Shockingly enough, over 27,000 layoffs were recorded this August alone as 40 companies gave a chunk of their employees the pink slips.
Tech giant, Intel fired as many as 15,000 employees this August, which is 15% of its global workforce while CISCO fired 6000 people. IBM has fired 1000 workers while German chip-maker Infineon fired 1400. Apple downsized its workforce by 100.
With these shockingly aggravated numbers in August, the total number of layoffs in the tech industry in 2024 alone shoots up to 1,36,000.
The post-Covid norms, integration of AI, and withdrawal of R&D wings by tech giants is said to be resulting in huge job cuts.
This post was last modified on %s = human-readable time difference 3:17 pm
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