The layoff tracking website Layoffs.fyi reports that as of January 15, 48 tech companies have let go of 7,528 workers. The cutbacks indicate that the tech sector, which also had huge layoffs in 2023, may face difficult times ahead.  

• More than 7,500 workers have been laid off by 46 tech and IT companies in 2024. 
• Global layoffs are having an impact on the Indian workforce. 
• Notable tech companies like Frontdesk, Unity, Google, Audible, Meta, Veeam Software, and Pixar have announced large job cuts. 
• Global banking giant Citigroup plans to cut 10% of its workforce.

Within a few weeks, 46 IT and tech companies including startups have laid off more than 7,500 workers. This is a huge number. This number keeps going up because generative artificial intelligence (GenAI) indicates a serious threat to a lot of job opportunities.

Over 425,000 workers were let go by IT companies, including startups, globally in 2022 and 2023; during that same period, over 36,000 workers in India were dismissed. The global layoffs, which persisted till the end of the previous year's holiday season, are expected to have an impact on the Indian workforce once more.

• On Wednesday, Google said that it was laying off roughly a thousand workers from its hardware teams, which developed Pixel, Nest, and Fitbit, as well as from its Google Assistant division.
• Numerous employees from Amazon's MGM Studios, Audible, Twitch, and Prime Video divisions were let go.
• Discord, a messaging app that plans to go public, laid off 17% of its workforce.
• According to Bloomberg, Apple, which escaped the widespread layoffs that struck its competitors in 2023, is terminating a 121-person AI team based in San Diego.

One of the biggest statements came from Citigroup, a prominent international bank, which stated that as part of a massive corporate reorganization, it will eliminate 10,000 jobs, or 10% of its workforce, over the course of the following two years.

Over 100 people, or 5% of the total, will be fired as part of Audible's workforce reduction initiative. Audible is Amazon's audio book and podcast subsidiary. This choice is consistent with the company's larger attempt to reduce employment.

Furthermore, Unity, a game company, announced that it would be cutting 25 percent of its personnel, which would mean 1,800 job losses in its most recent wave of layoffs.

Organizational reforms to improve efficiency and match resources to product priorities are mentioned by some. Others can be reorganized as a result of changing business strategies or financial difficulties.

A Google representative clarified in a statement that the purpose of these modifications was to increase productivity, streamline processes, and reallocate resources to the company's top product objectives. The spokesman added that certain functions may be eliminated globally as a result of ongoing organizational reforms.