Tech Layoffs in July 2024: Microsoft, Intel, Dyson Among Others Sack Over 1 Lakh Employees

The wave of tech industry layoffs has not stopped post-COVID-19 pandemic. Over 8,000 IT professionals were fired by 34 companies in the current month. The total layoffs in 2024 have now reached 124,517 employees from 384 companies worldwide.

Intel Cuts Over 15,000 Employees

Intel has announced the layoff of over 15,000 employees, which is more than 15% of its workforce, as part of a $10 billion cost-cutting initiative for the upcoming year. Company CEO Pat Gelsinger said lower revenue growth and capitalizing on challenges in the AI world prompted the company to make the decision for mass job cuts. The job cuts will be completed by the end of this year, offering voluntary retirement and departure options to eligible employees.

Microsoft Cuts Over 1,000 Jobs in Past 2 Months

Microsoft, the Windows developer and ChatGPT designer, cut around 1,000 jobs across its Mixed Reality and Azure 'moonshots' departments in July 2024. A month later, several employees took to social media after they were let go. However, there were no official statements from Microsoft, nor were numbers disclosed on the latest round of job cuts. Those affected say that the trimming down affected roles related to product and product management.

UKG Cuts 2,200 Jobs

Massachusetts-based software giant UKG announced the month's largest job cuts, slashing 14% of its total workforce worldwide, which amounts to about 2,200 headcounts. The company, which previously employed 15,882 people, cited a need to focus on critical growth areas to support its long-term strategy.

1,800 Employees Laid Off by Intuit

Intuit Inc., a California-based fintech firm, plans to cut 1,800 jobs, representing about 10% of its staff. This marks the second-largest layoff event in the tech sector for July.

Also Read | Dell Layoffs: Tech Company Sacks 12,500 Employees From Sales Department Amid New AI-Focused Unit.

Dyson Cuts 1,000 Jobs at Its Headquarters in the UK

UK-based tech giant Dyson, which manufactures appliances, has announced the cut of nearly 1,000 jobs in Britain, affecting more than a quarter of its local workforce. According to CEO Hanno Kirner, rapid innovation in the tech world and competition from others are reasons behind the decision. The company, which employs around 15,000 people globally, has promised support for affected employees but did not specify the total number of worldwide job cuts.

Also Read | Intel Layoffs: US Leading Chipmaker to Cut 18,000 Jobs to Reduce $20 Billion in Costs.

Kaspersky to Lay Off 100% Workforce

After being banned by the US government over security risks, the Russian cybersecurity firm Kaspersky said it will move its operations from America, which will lead to job cuts for dozens of employees. The Kaspersky ban order became effective on July 20, 2024. The company's headquarters are in Russia.

ReshaMandi Lays Off 80% of Workforce

ReshaMandi, a Bengaluru-based startup specializing in silk yarn products, has laid off 80% of its workforce after failing to secure Series B funding. The startup’s employee count dropped from 500 in January 2023 to around 100 by year-end, with reports suggesting that 300 former employees are still awaiting final dues and salaries.

Flop Koo, X-Like Microblogging App, Lays Off Employees

India-based microblogging platform Koo, which is similar to X (formerly known as Twitter), has shut down its operations in India. Koo laid off several employees after acquisition talks with news aggregator Dailyhunt fell through. The company reportedly employed around 200 staff as of September 2021.

Unacademy Cuts 250 Jobs

India's leading edtech platform Unacademy has announced a layoff of approximately 250 employees. The restructuring affected 100 staff in marketing, business, and product roles, along with 150 in sales positions.

WayCool Cuts 200 Employees

WayCool, a Chennai-based agritech firm, has laid off over 200 employees in its third round of job cuts within a year. The company cited streamlining efforts to prevent losses as it grappled with funding challenges.

PocketFM Cuts 200 Writers

PocketFM, a popular audio series platform, has sacked over 200 writers, primarily affecting its US-based audio series team. The exact number of affected employees remains unclear. The company is headquartered in Karnataka's Bengaluru.

Bungie Cuts 220 Staff

Sony-owned game developer Bungie has sacked nearly 220 employees, about 17% of its workforce, due to rising development costs and high competition in the gaming world. This follows a previous round of 100 layoffs in October 2023, bringing the total workforce reduction to about 40% over the past year.

Humble Games Lays Off Entire Team

Indian-based Humble Games, a subsidiary of Ziff Davis, has sacked its entire team of 36 employees. The company, which has published nearly 50 indie games, initially faced rumours of closure but later clarified it would continue operations. Internal documents reveal that Ziff Davis attempted to sell Humble Games twice in recent years without success.