Tech layoffs: इंटेल, सिस्को, आईबीएम और एप्पल ने अगस्त में 27,000 से अधिक नौकरियों में कटौती की।

Tech layoffs: Intel, Cisco, IBM and Apple cut over 27,000 jobs in August.

In August 2024, tech companies significantly reduced their workforce, with over 27,000 employees being laid off across more than 40 companies, including major names like Intel, IBM, and Cisco. So far this year, 422 companies have cut over 136,000 tech jobs. Here’s a summary of the major layoffs in August:

1. Intel: Announced the elimination of 15,000 jobs, representing over 15% of its workforce, as part of a $10 billion cost-cutting plan for 2025 following disappointing second-quarter results. Intel’s annual revenue dropped by $24 billion from 2020 to 2023. CEO Pat Gelsinger noted, "The shortfall in Intel’s revenue growth is due to high costs and low margins, despite our historic leadership in CPU chip technology."

2. Cisco Systems: Revealed plans to lay off about 6,000 employees, or 7% of its global workforce, as it shifts focus towards AI and cybersecurity. This marks the company's second major round of job cuts this year. CEO Chuck Robbins expressed optimism about recovering demand for Cisco’s networking equipment.

3. IBM: Discontinued its research and development operations in China, resulting in over 1,000 layoffs. IBM stated, "Our focus will now be on serving private enterprises and selected multinationals in the Chinese market."

4. Infineon: The German chipmaker cut 1,400 jobs and plans to relocate another 1,400 positions to countries with lower labor costs. CEO Jochen Hanebeck explained, "The slow recovery in our target markets is attributed to prolonged weak economic conditions and high inventory levels."

5. GoPro: Reduced its staff by about 15%, equating to around 140 employees, in an effort to cut operating expenses by $50 million.

6. Apple: Let go of approximately 100 employees from its services group, which includes Apple Books and the Apple Bookstore teams. This follows previous layoffs of 600 employees from its Special Projects Group and the closure of a 121-person AI team in San Diego earlier in the year.

7. Dell Technologies: Reportedly laid off about 12,500 employees, or 10% of its global workforce, though the company has not officially confirmed this figure.

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