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News on Medial
Tech layoffs in January 2024: CEO fires the whole company over 2-minute call; Google, Microsoft, Amazon continue layoffs; job cuts at TikTok, Flipkart, Swiggy, and others
Startup News FYI
·
1y ago
Medial
In January 2024, several tech companies implemented job cuts. Frontdesk fired all 200 employees during a two-minute call, Google laid off hundreds of staff across various divisions, Microsoft cut 1,900 jobs, Amazon announced layoffs in Audiobooks, Prime Video, and Twitch divisions, Xerox reduced its workforce by 15%, Unity Software cut 1,800 jobs, Discord laid off 17% of its employees, eBay cut 1,000 jobs, Flipkart laid off 1,000 employees, Swiggy laid off 400 employees, Riot Games cut 11% of its staff, TikTok laid off 60 workers, and Salesforce announced 700 job cuts.
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Related News
No, the great tech layoffs of 2023 aren’t happening again
Wired
·
1y ago
Medial
Tech companies like Amazon, Google, Duolingo, and Twitch have recently announced job cuts, but experts suggest that these layoffs may not indicate a continuing decline in the tech industry. Unlike the large-scale layoffs seen in previous years, these cuts are more targeted and focused on specific departments and products. The tech sector as a whole remains healthy, with stable consumer habits after the pandemic. While smaller job cuts may continue, experts do not foresee a widespread wave of layoffs across the industry.
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Tech layoffs in 2024: New Year off to a brutal start as Amazon, Google, others fire thousands
Economic Times
·
1y ago
Medial
In early 2024, amid economic challenges, tech and startup layoffs continue, with 48 companies cutting 7,528 jobs by January 15. Major players like Google and Amazon plan more layoffs to manage costs. Online rental platform Frontdesk initiated 2024's first layoffs, dismissing its 200-person workforce in a swift Google call. Notable layoffs in 2024 include Google, Amazon Audible, Amazon Prime Video, Amazon’s Twitch, Discord, Unity Software, and Xerox, indicating a potentially challenging year for the tech industry following 2023's massive job cuts.
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L&T Technology Services fires 200 employees
Livemint
·
1y ago
Medial
Engineering services firm L&T Technology Services (LTTS) has reportedly laid off 200 employees in mid-to-senior roles as part of its performance cycle and to reduce role overlaps. The job cuts mainly affected delivery and support functions due to increased automation. L&T Technology Services has about 24,000 employees and discussions are underway for potential additional job cuts in January. The company, however, mentioned plans to continue hiring in areas like plant engineering, digital, AI, and software-defined vehicles.
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Okta fires 400 people
Business Insider
·
1y ago
Medial
Okta is reducing its headcount by 7% as part of its commitment to achieve profitable growth. The company will lay off around 400 employees, with affected workers being notified via email. This is not the first time Okta has made job cuts, as last year it reduced its workforce by 300 employees. CEO Todd McKinnon stated that the decision was necessary to ensure greater efficiency and manage costs effectively. These layoffs come amidst a trend of tech companies, including Amazon and Google, making similar job cuts.
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A comprehensive list of 2023 & 2024 tech layoffs
TechCrunch
·
1y ago
Medial
In the tech industry, there have been significant layoffs in 2023 and 2024. Companies like Google, Amazon, Microsoft, and TikTok have all announced job cuts. The layoffs are a reflection of the challenges faced by tech companies, with many facing tough market conditions and needing to focus on efficiency rather than growth. The layoffs also highlight the impact on innovation and the human aspect of job cuts. The total number of layoffs in 2023 was 262,735, which is 59% higher than the previous year. The tech sector continues to face challenges, and it remains to be seen how the job market will evolve.
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Google staff sound off about 'corporate overlords,' impersonal layoffs, and a changing company culture, report says
Business Insider
·
1y ago
Medial
Google employees have recently experienced another round of layoffs, leaving some feeling disgruntled. The job cuts, which affected staff working on Google Assistant, Fitbi, and the devices and services teams, were not addressed internally by CEO Sundar Pichai. Employees have expressed their frustrations on Google's internal meme board, criticizing management as "corporate overlords." The layoffs were described as impersonal, with one engineering director indicating that the company's culture had changed significantly since the last major round of job cuts. Google had previously cut 12,000 employees in January 2023, and the new wave of layoffs reflects a broader trend in the tech industry.
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Cisco lets go thousands of employees in second major layoffs this year
Economic Times
·
10m ago
Medial
Tech conglomerate Cisco has laid off thousands of employees as it faces declining demand and the need to reduce costs. The company had previously announced job cuts in August affecting around 7% of its workforce. Cisco is focusing on high-growth areas and has allocated $1 billion to AI startups. The company is anticipating restructuring costs of up to $1 billion. The tech sector as a whole has experienced significant layoffs this year, with over 136,000 job cuts across 422 companies. Cisco is also shifting its focus towards subscription-based services and investing in emerging technologies and cybersecurity.
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TikTok lays off employees to reduce costs
Economic Times
·
1y ago
Medial
TikTok has laid off a certain number of employees in its sales and advertising division in an effort to reduce costs. While reports vary, it is estimated that around 60 to at least 100 employees were asked to leave. This move follows a series of job cuts from other tech companies, including Google and Amazon. Despite the layoffs, TikTok still has around 7,000 employees in the US and over 150 million active users in the country.
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Broadcom cuts at least 2,800 VMware jobs following $69 billion acquisition
Arstechnica
·
1y ago
Medial
Broadcom has completed its $69 billion acquisition of VMware and is implementing layoffs. At least 2,837 employees across multiple states will be affected, with 1,267 job cuts at the Palo Alto campus in California. WARN notices filed by Broadcom cite "economic" reasons for the layoffs, but no further explanation was provided. Despite the layoffs, VMware will continue to play a significant role in Broadcom's enterprise software strategy, with plans to focus on software subscriptions for revenue growth. Details of the Broadcom-owned VMware's future remain unclear.
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Dunzo cofounder Kabeer Biswas joins Flipkart to lead quick commerce biz
Economic Times
·
7m ago
Medial
Kabeer Biswas, cofounder of Dunzo, has joined Flipkart to lead its quick commerce business, Minutes, starting January 13. Biswas leaves Dunzo, backed by Reliance Retail, after struggling with capital-raising issues and cash burn. Flipkart had explored acquiring Dunzo and engaged in talks with Biswas through 2024. Some Dunzo investors support Biswas's departure amid the company's financial challenges, including job cuts and debt issues. Former executives from Dunzo are launching new ventures in the quick commerce space.
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