In 2024, tech layoffs began in the video game industry at Twitch, Unity, and Discord. As the year has gone on, thousands of jobs are being cut by other companies as well.
Here is the list of the largest tech layoffs of 2024, based on the total number of employees impacted at each company. The source of the data is layoffs.fyi.
According to sources within Dell, the company will lay off 20,000 employees this year, following 6,000 layoffs in March. Business Insider was informed by HR staff that Dell intends to reduce its workforce to fewer than 100,000 employees.
The company employed about 120,000 people as of May 2024. At least 12,500 members of the sales and marketing teams were let go by Dell in August, though the company has not yet disclosed the exact number.
If this happens, it might be the biggest layoffs the company has ever experienced. An AI-first restructuring that is anticipated to spread to other organizational divisions is driving the cuts.
At Intel and Tesla, significant layoffs are being caused by business headwinds. With operating losses of almost $7 billion in 2023, Intel’s foundry division is having financial difficulties. They haven’t yet made a big impression in the GPU market and have lost important clients in the PC industry.
In August, Intel announced 15,000 job cuts, which caused the company’s share price to drop to levels not seen since July 1997. The present financial situation of this chipmaker is very different from that of Nvidia, the market leader, which has benefited greatly from its AI division.
Finally, in 2024, demand for Tesla is expected to decline. For the first time in almost four years, their car deliveries decreased. In China, intense competition has also resulted in price reductions, which have strained profit margins. Around 14,500 jobs were eliminated by the company in two rounds in April.
