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Over 80K tech employees lost jobs globally in first four months in 2024: Report

Updated: May 4th, 2024

Source: IANS

More than 80,000 employees in the technology sector have lost jobs in the first four months this year, and layoffs continue to haunt the overall startup ecosystem globally.

Latest figures from a tech startup layoff tracker, show that 279 tech companies have sacked 80,230 employees to date (till May 3).

In 2022 and 2023, tech companies worldwide laid off more than 4,25,000 employees, as global slowdown hit the IT/Tech and the startup ecosystem.

In a latest job cut, US customer experience management platform Sprinklr sacked about 116 employees.

Exercise equipment and fitness company Peloton this week announced to lay off 15% of its workforce (about 400 employees).

Google also laid off about 200 employees from its core teams in a reorganisation move, according to reports.

In fresh job cuts, Elon Musk-run Tesla laid off hundreds of employees, weeks after reducing 10% (or 14,000 people) from its global workforce.

The tech billionaire disbanded the entire Tesla charging team in the new layoff round.

In India, ride-hailing platform Ola Cabs has started a restructuring process that will impact at least 10% of its workforce.

(Source: IANS)

-Edited for style

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