The tech sector’s wave of layoffs shows no signs of abating as 2024 progresses. Despite significant workforce reductions over the past two years, major and minor job cuts continue to emerge across the industry. According to the independent layoffs tracker Layoffs.fyi, as of August 30, 2024, 422 tech companies have laid off a staggering 136,782 employees.
Continued Workforce Reductions by Tech Giants
Even industry behemoths such as Apple, Microsoft, and Google have not been spared from making substantial cuts. These reductions, following previous mass layoffs, highlight ongoing cost-cutting measures, restructuring efforts, and a strategic pivot towards emerging technologies like artificial intelligence (AI).
August 2024 Layoff Highlights
Apple
Apple has announced its own round of layoffs, affecting around 100 employees within its digital services group. The cuts will primarily impact the Books and News teams, signaling potential shifts in Apple’s digital content strategy. Earlier this year, in May, Apple had already laid off 614 employees in California due to the closure of a long-running electric vehicle (EV) project.
GoPro
GoPro, renowned for its action cameras, plans to cut approximately 15 percent of its workforce, affecting around 139 employees. This restructuring effort aims to streamline operations and refocus on core business areas amidst challenging market conditions.
Sonos
Audio technology company Sonos has confirmed another round of layoffs, reducing its workforce by 100 employees, or about 6 percent. This move follows a 7 percent reduction in headcount in 2023 as part of ongoing efforts to adapt to market dynamics and enhance operational efficiency.
Cisco
Networking giant Cisco is reportedly planning significant job cuts in a new round of layoffs this year. Having already reduced its workforce by over 4,000 employees in February 2024, Cisco’s broader restructuring initiative is designed to align the business with current market conditions and future growth opportunities.
Dell
Dell is also undergoing workforce reductions this month as part of a strategy to become “leaner” and establish a new sales unit focused on AI products and services. While the precise number of affected employees remains undisclosed, an internal memo indicates a major restructuring in response to growing AI demand.
Intel
Intel has made headlines with one of the largest layoff announcements of the year, cutting 15,000 employees, or 15 percent of its workforce. CEO Pat Gelsinger attributed the cuts to slower-than-expected revenue growth and the need to better position the company for future technological advancements, including AI.
Microsoft
Microsoft has continued its trend of layoffs throughout 2024. The company made cuts in January, laying off 2,000 employees from its gaming unit following its acquisition of Activision Blizzard. Subsequent rounds of layoffs in June and July targeted various divisions, including Azure, HoloLens, and product and program management roles. Although the exact numbers remain undisclosed, the global impact indicates substantial organisational changes.
Alphabet, the parent company of Google, has also joined the layoff trend, cutting 630 workers from various units, including Voice Assistant, hardware teams (Pixel, Nest, and Fitbit), advertising sales, and AR teams. CEO Sundar Pichai described these layoffs as part of efforts to “simplify execution and drive velocity.” Earlier in April, Alphabet had already laid off around 200 employees from its core teams, including several senior-level executives.
