In the first two weeks of the new year, 7,500 workers were laid off from 46 IT companies around the world, including startups. This number is increasing almost every day. It has been reported that generative AI is causing massive layoffs in various companies.
During the holiday season at the end of last year, there were massive layoffs in various companies around the world.
As of January 14, 46 IT companies around the world have laid off a total of 7,528 workers, according to layoff news website Layoff.
Earlier in 2022 and 2023, around 4,25,000 workers were laid off from various start-ups and IT companies around the world. At the same time, around 36,000 workers were laid off from various IT companies in India.
Online rental platform Frontdesk has laid off its first job in 2024. The company laid off 200 employees in just a two-minute Google Meet call.
Then gaming company Unity laid off 25 percent of its total workforce, that is 1,800 workers.
Last week, Google too has started layoffs. Several layoffs have been made from the company’s core engineering and support teams.
Amazon-owned audiobook and podcast company Audible recently laid off 5 percent of its total workforce, or more than 100 workers.
Meta also started the new year by laying off some Technical Program Managers (TPMs) at Instagram. At least 60 such positions have either been consolidated or those employees have been retrenched, the report said.
Global data management solutions provider Vim Software has reportedly laid off 300 employees recently.
Disney-owned animation studio Pixar is also on the path to layoffs this year, according to media sources.
Global banking major Citigroup is also said to be cutting 10 percent of its workforce, or about 20,000 workers, over the next two years.