When tech companies look for ways to optimize operations, respond to changing market conditions, re-adjust priorities, or even shut down their operation, the impact on employee livelihood can be big. CRN looks at 10 of the most significant tech layoffs that have made their mark so far in 2024.
IT Sector Layoffs Still Happening In 2024
The U.S. unemployment rate has been fairly steady in the last year, and currently dances around a mere 4.3 percent, according to the latest from the U.S. Bureau of Labor and Statistics.
With low unemployment overall, and low expectations of any significant increase in the foreseeable future, it sometimes seems the headlines about tech layoffs may be overblown. This seems especially true given that so many layoffs happen at tech companies that are also still very much in hiring mode.
Tech companies lay off employees for any of several reasons, including optimizing their operations, responding to changing market conditions, re-adjusting their priorities, or, in the worst-case scenario, closing the entire business or certain parts of it.
CRN looks at 10 of the most important tech layoffs of 2024 so far, with a focus on layoffs in companies whose businesses impact indirect channels. Therefore, while a significant layoff may happen at a video streaming company’s internal IT team, it is not listed here.
The list is based on the actual number of layoffs where available, and on announced layoffs where the actual number is not available. Also, the number of actual layoffs can change, either as cuts go a bit deeper than expected or as companies hire new employees after the cuts.
Also, this list of tech layoffs is focused on absolute numbers of employees whose positions were eliminated, not on how big the impacts on the companies as a whole are. So while a company like Ora Security in January unveiled a large 15-percent reduction in headcount, a total of 60 employees were impacted, and so it did not make the list.
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