More than 71 tech companies have already eliminated almost 7,000 employees this year to date. According to the tech industry layoff tracker layoff.fyi, Microsoft, Meta, Amazon, and Google are among the leading tech companies cutting off people.
Companies believe the cuts help them remain efficient and competitive. While some layoffs are performance-based, others are due to restructuring. The trend demonstrates that even leading technology companies are not immune to change.
For instance, social media giant Meta is letting go of over 3,000 workers, especially those with reportedly low-performance scores. The layoffs affect around 5 per cent of Meta's staff, which had 72,400 employees as of September.
Amazon has been cutting off employees since 2022 and shows no signs of slowing down. Last month, the corporation announced another round of job losses, this time in the communications and sustainability departments. The specific figure is not public, but internal communication classified it as "small." Over the last three years, Amazon has laid off 27,000 people.
Microsoft is also reducing employment, primarily in teams that did not meet performance targets.
According to Business Insider, the company's security division is among the affected departments. Puneet Chandok, Microsoft's India and South Asia head, affirmed that there are no layoffs in India. However, with Information Technology (IT) layoffs happening globally, it is uncertain whether additional job cuts will occur in other locations later this year.
On the other hand, Google has not been forcing employees to leave. The Platforms & Devices team, which oversees products including Pixel, Android, Chrome, and Nest, has implemented a voluntary leave programme. This means that United States of America-based team members can choose to leave with a severance package.
With these trends, and with many others planning additional layoffs in 2025, it begs the question of whether the doldrums in the tech industry, which forced layoffs in 2023 & 2024 will persist in 2025.
