Like 2023, 2024 started on a layoff note. The leading tech giants have sacked many employees. This year in January month itself, nearly 176 layoffs were reported by tech companies, and 38,003 people were laid off @1,267 people per day.
In 2023, most of the layoffs were because of overhiring in the Pandemic and tech companies were right-sizing the headcounts, and some microeconomic situations.
And, in early 2024, most people are being laid off because of the integration of Generative AI displacing jobs and with few companies’ economic situations again. The repetitive jobs that can be performed by Artificial Intelligence will be obsolete.
The initial post of Techie said, “The whole recession situation in tech making me uneasy. Maybe at the lowest confidence level in my career.”
Reflecting, the same tech employee shared a post on the social media platform X (formally Twitter) and said, “That was quick. I got laid off today, as part of reorg. So actively looking for a job now. Please let me know if anyone is hiring.”
“I joined the company as a second engineering member, at a time when the company was five people strong. In April, I would have finished my 5 years in the company. The company has grown to over 150 people, including a large number of engineers”, he added.
“Did significant contributions to the core product and worked closely with the founders. But in the end, was laid off in a call with the VP of engineering and HR. When I got a calendar invite at 10 AM, with people I don’t usually interact with, I understood that my time had come”, he concluded.
That was quick. I got laid off today, as part of reorg.
— Jishnu (@jishnu7) February 8, 2024
So actively looking for a job now. Please let me know if anyone is hiring. https://t.co/CqGWYQbgY6
In January 2024 several companies including Flipkart, Salesforce, Microsoft, Google, eBay, Amazon, and Bosch have sacked several employees.
Moreover, In February, Deutsche Bank plans to reduce approximately 3,500 jobs, mainly in non-client-facing areas. The layoffs are nearly under 4% of its global workforce of about 90,000.
Snap said that the company will sack 10% of its global workforce which is nearly 500 employees. Grammarly to lay off nearly 230 employees as a part of Restructure Business to Align With Company Strategy and Accelerate Growth.
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