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Tech Layoffs 2024: At Least 41,000 Jobs Lost In June Alone, Over 1,00,000 Jobs Lost Since January 2024

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Tech Layoffs 2024: At Least 41,000 Jobs Lost In June Alone, Over 1,00,000 Jobs Lost Since January 2024

This month, several companies have made significant staff reductions, contributing to a wave of layoffs that is affecting thousands of employees worldwide.

Layoffs have become increasingly prevalent across various sectors as companies grapple with economic uncertainties, shifting consumer demands, and operational challenges exacerbated by the ongoing global situation. This month, several companies have made significant staff reductions, contributing to a wave of layoffs that is affecting thousands of employees worldwide.

Ola Electric reduced its workforce by approximately 400 to 500 employees across various divisions. This decision aims to reduce operational costs ahead of its planned initial public offering (IPO). Reports suggest that while some affected employees may be replaced with new hires at a significantly lower cost, an overall workforce reduction is anticipated.

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