Tech job cuts top 100,000 in July 2024: Intel, Microsoft, Dyson, UKG and more to lay off thousands of workers

The Tech Industry Wave exemptions continued into July 2024, with more than 8,000 professionals at 34 tech companies losing their jobs that month. The total number of layoffs in 2024 reached 124,517 workers at 384 companies worldwide.

Massive layoffs at Intel, over 15,000 employees to be laid off

Intel is laying off more than 15,000 workers, or more than 15% of its workforce, as part of an initiative to cut costs by $10 billion by 2025.CEO Pat Gelsinger The reasons cited for the moves included lower-than-expected revenue growth and challenges in capitalizing on AI trends. The company plans to complete most of the layoffs by the end of 2024 and will offer eligible employees voluntary retirement and separation options.

Microsoft has laid off more than 1,000 employees in the past two months.

In June, Microsoft laid off about 1,000 employees from its Mixed Reality and Azure “moonshots” divisions. A month later, in July, several employees took to social media after being laid off. Although Microsoft has not confirmed the latest round employment reductionAffected people say the reductions were in product and product management roles. However, no figure was disclosed.

Software giant UKG lays off 2,200 jobs

Massachusetts-based software company UKG initiated its largest layoffs this month, cutting 14% of its workforce — about 2,200 people. The company, which previously employed 15,882 people, cited the need to focus on key growth areas to support its long-term strategy.

Intuit lays off 1,800 employees

California-based financial management software company Intuit Inc. announced plans to eliminate 1,800 jobs, or about 10% of its workforce, in the second-largest layoff in the technology sector in July.

Dyson lays off 1,000 jobs at its headquarters

Dyson, the British appliance maker, has announced plans to cut around 1,000 jobs in the UK, affecting more than a quarter of its local workforce. Chief executive Hanno Kirner cited fierce competition and rapid innovation as the reasons for the restructuring. The company, which employs around 15,000 people worldwide, promised support for affected workers but did not specify the total number of global job cuts because reviews are being carried out on a country-by-country basis.

Kaspersky to lay off all its US employees as they leave the country following the ban

Russian cybersecurity firm Kaspersky has announced it will cease operations in the United States and lay off dozens of employees after the U.S. government imposed a ban on the use of its software. The ban, which is set to take effect on July 20, 2024, highlights security risks associated with the company’s Russian headquarters. The company, which initially planned to challenge the ban, now admits its U.S. operations are “no longer viable” and will “phase out” operations, affecting fewer than 50 employees in the country.

Bengaluru startup ReshaMandi lays off 80% of employees

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

Koo closes operations, all employees are laid off

Indian microblogging platform Koo, once seen as a potential rival to X (formerly Twitter), has closed its doors after acquisition talks with Dailyhunt fell through. The company reportedly had around 200 employees as of September 2021.

Unacademy restructures, lays off 250 employees

Indian edtech giant Unacademy has announced layoffs that will affect about 250 employees. The restructuring has affected 100 employees in marketing, business and product roles, as well as 150 in sales roles.

WayCool lays off 200 employees due to financial problems

Chennai-based agritech firm WayCool has shed more than 200 employees in its third round of job cuts in 12 months, citing improved loss prevention efforts as it grapples with financial challenges.

PocketFM lays off 200 writers for its online FM show

Bengaluru-based audio platform PocketFM has reportedly laid off close to 200 writers, mostly from its US-based audio team. The exact number of employees affected remains unclear.

Bungie, a Sony-owned company, is laying off 220 employees, furloughing 155 others.

Bungie, a Sony-owned game development studio, has announced a significant round of layoffs, eliminating 220 jobs (17% of its workforce) due to rising development costs and economic pressures. This follows a previous round of 100 layoffs in October 2023, which resulted in a total workforce reduction of about 40% over the past year. CEO Pete Parsons cited overly ambitious growth and financial burdens as reasons for the cuts. In addition to the layoffs, Bungie is working with Sony Interactive Entertainment will reassign 155 employees to other divisions within SIE. Despite these changes, Bungie plans to maintain its focus on its core projects, Destiny 2 and Marathon, with over 850 team members still dedicated to those games.

Humble Games lays off entire staff after failing to find buyer

Indie publisher Humble Games, a subsidiary of Ziff Davis, has laid off its entire team of 36 employees. The company, which has published nearly 50 indie games, initially faced rumors of closing down but later clarified that it would continue to operate. Internal documents reveal that Ziff Davis tried to sell Humble Games twice in recent years, but was unsuccessful.