Tech Layoffs Cross 15K Mark In September
Major companies, including Samsung, PwC, Cisco, Microsoft, and others, have recently announced significant job cuts as part of their restructuring and cost-saving measures
The ongoing economic turbulence has triggered a wave of layoffs across various industries globally, leaving employees facing uncertainty about their future. Major corporations, including Samsung, PwC, Cisco, Microsoft, and others, have recently announced significant job cuts as part of their restructuring and cost-saving measures.
Samsung is reportedly considering reducing its workforce by up to 30 per cent in certain divisions, such as sales, marketing, and administrative roles, potentially affecting employees across its global subsidiaries.
PwC’s US division has cut approximately 1,800 jobs in its first major layoff since 2009, driven by a broader restructuring within its technology group due to declining demand for advisory services.
Microsoft has announced an additional 650 layoffs in its Xbox division, following earlier cuts of 1,900 jobs in January 2024. These reductions are part of the company’s efforts to streamline operations after acquiring Activision Blizzard.
Cisco revealed a new round of layoffs affecting about 5,600 employees, accounting for 7 per cent of its workforce. This follows a previous downsizing in February, when the company eliminated over 4,000 jobs.
Qualcomm plans to lay off 226 workers in San Diego later this year, with the cuts scheduled for November. This is part of the company’s strategy to address ongoing financial challenges.
Akzo Nobel, the maker of Dulux paint, announced plans to cut approximately 2,000 jobs globally, mainly affecting head office roles, as the company seeks to improve operational efficiency.
Paramount Global has initiated a second round of layoffs across multiple divisions, including CBS, Comedy Central, and MTV, as part of broader cost-cutting measures to navigate challenges in the traditional media landscape.
Disney is also implementing layoffs at the corporate level, as part of its ongoing efforts to streamline operations and improve profitability in a tough market environment.
