30,000 people laid off in the technology sector throughout January

According to data from Layoffs.fyi, 29,995 people were laid off from 112 different companies in 2024, a year of which we have just left the first month behind. It is reported that this figure includes the 150 layoffs carried out at Zoom today.

THE COST OF MASS LAYOFFS IS VERY HIGH

Layoffs.fyi reports that in 2023, 1,189 technology companies laid off exactly 262,595 employees. Google was the most recent company to come to the fore on this issue. It appears that the company spent as much as 2.1 billion dollars to complete the approximately 12,000 layoffs it made in 2023. It is reported that the firm has already spent 700 million dollars for the layoffs it has made within the scope of 2024. While the company has to pay severance and certain other legal payments when parting ways with its employees, it certainly saves money in the long run with these layoffs, but the cost of mass layoffs made at once seems truly high.

LAYOFFS CONTINUE AT MICROSOFT

Today, it was announced that payment giant PayPal is parting ways with 2,500 employees, and Block, the company of Twitter co-founder Jack Dorsey, is parting ways with about 1,000 employees. Many other layoff reports have also come in recently. For example, Microsoft, which acquired Activision Blizzard for a massive amount of money after a very long struggle, recently parted ways with 1,900 people from the company it brought under its umbrella and also from its Xbox division. This move by Microsoft, which has a total of about 22,000 employees, was not the only layoff the company has carried out recently.

ONE THOUSAND EMPLOYEES TO BE LAID OFF

Blizzard president Mike Ybarra decided to leave the company (this is seen as a major loss), and in addition, a survival game that Blizzard was working on was cancelled. Last week, Riot Games, TikTok, and Google also made headlines with new layoffs. Most recently, eBay delivered sad news. According to the official announcement, eBay, one of the most important names in shopping, is parting ways with approximately 1,000 employees.

The company, which gave bad news to approximately 9 percent of its workforce due to ongoing economic conditions, is reportedly unable to grow at the level it desires.

News Source: 12punto