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A surge in tech company layoffs that picked up towards the end of 2023 is continuing strongly into 2024. It is not showing signs of easing. Halfway through the year, 254 companies have cut 60,000 jobs already and more are threatened, according to reports on the layoffs.fyi website. Tech companies laid off 19,350 employes in January while they downsized by 15,589 employees, according to a report on the TechChruch website. March saw pink slips served on 7,403, followed by 22,153 in April and 9,882 in May. June was not different although only about 4,000 people got fired.
Here is a list of the top ten layoffs in 2024 in the descending order of the number of employees affected:
Number of employees affected: 8,000
International Business Machines Corporation (IBM) is headquartered in Armonk, New York. Known for its significant contributions to the information technology sector, IBM operates in cloud computing, artificial intelligence, and quantum computing. The current CEO is Arvind Krishna. Major products and services include IBM Cloud, IBM Watson, IBM Power Systems, and mainframe computers.
Number of employees affected: 6,000
Cisco Systems, Inc. (CSCO) is headquartered in San Jose, California. Cisco is a global leader in networking hardware, software, and telecommunications equipment. The CEO is Chuck Robbins. Major products include routers, switches, cybersecurity solutions, and collaboration tools such as Webex.
Number of staff affected: 1,900
Microsoft Corporation (MSFT), based in Redmond, Washington, is a multinational technology company. It is renowned for software products like Windows OS, Microsoft Office, and cloud services through Azure. Satya Nadella is the CEO. Microsoft also develops hardware products like the Surface lineup and Xbox gaming consoles.
Number of employees affected:1,800
Unity Technologies (U), headquartered in San Francisco, California, specializes in real-time 3D development platforms. Unity is widely used in gaming, augmented reality (AR), and virtual reality (VR) applications. John Riccitiello serves as CEO. The company's flagship product is the Unity game engine.
Number of employees affected: 1,650
Wayfair Inc., based in Boston, Massachusetts, is an e-commerce company that sells furniture and home goods. The company operates through a website and mobile app, offering a wide range of home products. Niraj Shah is the CEO. Wayfair's product categories include furniture, décor, lighting, and kitchenware.
Number of employees affected: 1,500
Expedia Group (EXPE), headquartered in Seattle, Washington, is a global travel technology company. It provides online travel booking services for flights, hotels, car rentals, and vacation packages. The CEO is Peter Kern. Brands under Expedia Group include Expedia.com, Hotels.com, and Vrbo.
Number of employees affected: 1,300
Walt Disney Co. (DIS)-owned Pixar Animation Studios, located in Emeryville, California, is an American animation studio known for its pioneering computer-animated films. The CEO is Jim Morris. Pixar has produced critically acclaimed films such as "Toy Story," "Finding Nemo," and "The Incredibles."
Number of employees affected: 1,000
Revel Systems, based in Atlanta, Georgia, is a point-of-sale (POS) software company. It provides cloud-based POS systems for retail and restaurant businesses. The CEO is Greg Dukat. Revel's products include Revel POS, online ordering, and customer relationship management tools.
Number of employees affected: 1,000
Indeed, headquartered in Austin, Texas, is a leading employment website for job listings and recruitment. Chris Hyams is the CEO. Indeed provides a platform for job seekers to find jobs, post resumes, and research companies, while employers can post job openings and search for candidates.
Number of employees affected: 1,000
Block, Inc., formerly known as Square Inc., is headquartered in San Francisco, California. It is a financial services and digital payments company. Jack Dorsey is the CEO. Major products include Square Point of Sale, Cash App, and Afterpay for "buy now, pay later" services.