As we near the close of 2024, the wave of layoffs in the tech industry shows no sign of slowing down. Following the mass job cuts announced in 2022 and 2023, tech companies have continued to announce additional layoffs throughout this year amid economic pressures, shifting strategies, and the impact of technological advancements like AI. According to Layoffs.fyi, over 143,209 jobs have been cut across 493 tech companies so far this year. These cuts include positions at both large and small tech firms, such as Tesla, Amazon, Google, TikTok, Snap, Microsoft, and others.
For some companies, these job cuts are part of restructuring, while others have shut down certain departments or entire companies under pressure from slow revenue growth. Recent layoffs in particular were seen from major players like Mozilla, X– formerly Twitter, and Samsung which announced new rounds of job cuts, adding to the list of mass layoffs announced over the past few years.
Mozilla announces layoffs as part of restructuring
The most recent layoff announcement came a few days ago from the Mozilla Foundation, known for its open-source browser Firefox. The company announced it was laying off 30 per cent of its workforce. According to Mozilla, the layoffs were a necessary move in response to what it called a “relentless onslaught of change.” TechCrunch reported that Brandon Borrman, Mozilla Foundation’s communications chief, confirmed the layoffs, explaining that the foundation is reorganising to focus on a “more open and equitable technical future.”
October was another significant month for tech layoffs.
X: Elon Musk’s social media platform X conducted a round of layoffs, primarily affecting the engineering department, according to a report from The Verge. Although the exact number of job cuts was not disclosed, internal sources and workplace forum Blind revealed that the cuts came just two months after X required employees to submit detailed summaries of their contributions.
Samsung: Bloomberg reported that Samsung implemented layoffs, particularly in Southeast Asia and Australia, with an estimated 10 per cent workforce reduction in these markets. Samsung highlighted the need to “improve operational efficiency,” though it did not specify the exact number of roles affected.
TikTok: Another round of layoffs in October came from TikTok, owned by ByteDance, which impacted hundreds of employees, primarily in Malaysia. Reuters reported that these job cuts are part of TikTok’s shift towards AI technologies for content moderation. The company stated that fewer than 500 employees were affected.
Coursera: In the same month, Coursera, a leading edtech company, announced a 10 per cent workforce reduction. This decision came as the company faced challenges in subscription renewals, despite its consumer segment surpassing $100 million in revenue for Q3.
Boeing: Airplane manufacturer Boeing also joined the October layoffs wave, announcing plans to cut 10 per cent of its workforce, amounting to approximately 17,000 jobs. According to Bloomberg, the layoffs are part of Boeing’s cost-cutting measures in response to mounting losses and a machinist union strike affecting its operations.
Qualcomm, Cisco, and Microsoft Laid Off Employees in September
The trend of layoffs was already in full swing by September, with several other notable companies implementing cuts. Qualcomm, the prominent chipmaker, announced layoffs affecting 226 employees in San Diego, just months after cutting more than 1,250 positions. Cisco also reduced its workforce by 7 per cent, impacting around 5,600 jobs. Microsoft laid off 650 employees in its gaming division as it continued integrating Activision Blizzard, which it acquired in a multi-billion-dollar deal earlier in the year.