It is just a month that new year has started, and thousands of tech and startup employees have found themselves jobless after surviving brutal mass layoffs in 2023. Now, layoffs have been a major concern in 2024, particularly within the tech industry. According to the sources, recent layoffs has taken over 30,000 employees across various companies like Google, Microsoft, UPS, and others have been laid off in just January 2024. However, this number doesnt even include smaller companies or non-tech sectors.Sources also claim that this year could be worse after tens of thousands of employees were laid off last year. More than 1,150 tech companies collectively fired over 260,000 people in 2023.With major employment layoffs made by tech companies like Paytm, Sharechat, Dunzo, and Byju, India has also felt the brunt of this.Numerous analysts cited the pandemics over hiring, rising prices, and weak consumer demand as the main causes of these layoffs. However, a month into 2024, layoffs are still happening with the same untamed zeal.Tech giants like Google, Microsoft, Amazon, Unity Software, Twitch, and several startups have announced job cuts. Other sectors like retail (companies like UPS) have also seen layoffs. Several reasons contribute to these layoffs, including economic slowdown, post-pandemic adjustments, restructuring, and cost-cutting measures.Companies laid off employees in January 2024Paytm: One 97 Communications, the parent of Paytm, laid off more than 1,000 employees at multiple units. The job cuts took place over the last few months.Xerox: The IT company in the month of January announced it will reduce its workforce by 15%, which results to about 3,000 employees.Twitch: According to the sources, which cited sources familiar with the plans, Amazons streaming division Twitch is planning to lay off 35% of its workforce, or roughly 500 employees.Amazon: Approximately 5% of the employees at Audible, an online audiobook and podcast service owned by Amazon, are being let go. Amazon announced in an internal memo that it will be laying off several hundred workers from its studio and streaming divisions.Pixar: Walt Disneys Pixar, in January laid off employees since it has concluded production on a number of its shows and is now overstaffed.
