More Than 7000 Techies Have Been Laid Off Since The Start Of 2024: Here Are The Details – News18

The big tech layoff season is probably starting sooner than many of us expected but it is happening already. In fact, as per a data platform, more than 7000 employees have been laid off by tech companies in just 2 weeks since the start of 2024.

These numbers have been crunched down by Layoff.fyi that claims to have been tracking tech layoffs since COVID-19. The interesting thing to note is that the platform has data of layoffs in 2022, 2023 and 2024 and the latest data clearly hints at something major brewing in the tech space that’s ought to get everyone worried. In total, 48 tech companies have laid off 7,528 employees in 2024 itself, which is just 2 weeks old.

These layoffs are not just limited to the US and look at even the small companies that have mushroomed in the past few years. The data collated by the platform is quite detailed and even tells you if the companies that have laid off people have raised any new funds at the same time.

The list even looks at companies like Zest Money and Flipkart from India, so you can clearly see the impact of global business changes affecting other markets. Google, Netflix, Spotify have already pushed the pink slips out to hundreds of employees in recent weeks, and most of them seem to be planning for life with AI in their operations, which is likely to make many people redundant at these companies.

In fact, Google CEO Sundar Pichai recently talked about the influence of AI in the industry and how it is going to force companies to take some serious and unpleasant decisions.

And if that wasn’t enough, the IMF has openly voiced its concerns about the job market and its future with the incoming AI revolution. Kristalina Georgieva, IMF chief, told AFP that artificial intelligence poses a risk to job security at large. She believes that AI will affect 60% of jobs in advanced economies and about 40% of jobs in developing countries.

The IMF, separately, also noted that about half of all jobs will be negatively impacted, while the rest will be bolstered by the productivity boost that AI brings. Moreover, AI is less likely to benefit labour markets in emerging economies.