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News on Medial
Two years, 35,000+ Job cuts: Indian Startup layoffs continue
Inc42
·
1y ago
Medial
According to Inc42, more than 35,000 startup employees have lost their jobs since the funding winter began in Q1 2022. The layoffs have primarily been led by companies like BYJU'S, Ola, Unacademy, Blinkit, and WhiteHat Jr. Additionally, industry experts believe that over 5,000 layoffs have gone unreported. Factors such as high work stress and the impact of geopolitical and macroeconomic developments have contributed to the attrition in the Indian startup ecosystem. The article also highlights the worst-hit segments, including edtech, consumer services, and enterprise tech. As we look towards 2024, the future for Indian startups remains uncertain.
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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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'Job security is dead...': Viral post exposes grim future for Big Tech employees as firms slash jobs without rehiring
Business Today
·
4m ago
Medial
Job security in Big Tech is rapidly declining due to overhiring and the increasing integration of AI, making several roles redundant. Globally, the job market has worsened over the past two years, with efficient layoffs by companies like Amazon. Economic uncertainties, automation, and outsourcing are major factors contributing to job cuts, impacting mid-tier roles in regions like Latin America and India. Despite this, India's job market appears relatively more stable than other tech hubs worldwide.
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Tech layoffs are way down from last year. Why does it feel so grim?
Business Insider
·
1y ago
Medial
Tech industry layoffs in 2024 are smaller compared to the massive layoffs in early 2023 by tech giants like Amazon, Google, and Meta. While job cuts this year are smaller and more focused, there is a continuous flow of bad news with startup closures becoming more common. The tech industry still feels grim due to small, continual job cuttings and the fear that the layoffs may not be over. This environment creates discomfort for employees despite software job postings showing some growth.
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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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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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Return of pink slips? Intel, Microsoft, Tinder parent Match hit by layoffs
Economic Times
·
1y ago
Medial
Despite a brief slowdown earlier this year, tech companies are once again resorting to job cuts to control costs. Over 120,000 employees have been laid off by 384 tech companies this year. Major players like Intel, Microsoft, and Match Group have all announced significant layoffs. Indian tech startups are also facing challenges and have been forced to lay off employees due to a tough funding environment. Companies like Ola Electric, Paytm, and Byju's have announced substantial job cuts.
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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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LinkedIn lays off over 500 workers as hiring activity slows
Economic Times
·
1y ago
Medial
Microsoft-owned LinkedIn has announced a second round of job cuts, resulting in over 500 layoffs, including engineers. The social media network is facing a hiring slowdown, prompting this move. This adds to the extensive job losses witnessed in the technology sector this year, as businesses grapple with an uncertain economic outlook. The 500 job cuts account for 2.5% of LinkedIn's 20,000-strong workforce.
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Big Tech's efficiency obsession has continued into 2024 with thousands of layoffs
Business Insider
·
1y ago
Medial
Big Tech's obsession with efficiency continues into 2024 with further layoffs. Google parent Alphabet is reportedly reducing its workforce, as is Amazon with its Twitch division and Audible. Discord CEO also announced staff layoffs. While the number of job cuts is relatively small compared to previous years, it indicates a focus on eliminating excess and getting more out of fewer employees. This trend reflects the industry's shift to prioritize performance measures like revenue-per-employee.
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