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Tech Layoffs:  Job cuts in the big tech companies have surged dramatically in August, affecting over 27,000 employees. Tech giants such as Cisco, Intel, and IBM, and Over 40 startups, announced major layoffs. So far this year, the tech industry has seen over 136,000 tech workers laid off across 422 companies.

Layoff at Cisco

Cisco Systems is set to lay off approximately 7 percent of its global workforce. It will affect about 6,000 employees. The company is focusing on high-growth areas such as artificial intelligence (AI) and cybersecurity. This is the second time Cisco is laying off this year.

Intel cuts 15,000 jobs

Intel announced in a memo to its employees on Thursday that it would cut 15,000 jobs, representing over 15 percent of its total workforce. This is part of a broader strategy to reduce spending by $10 billion by 2025 following a weak earnings report and outlook for the second quarter. Chief Executive Officer (CEO) Pat Gelsinger attributed the company’s revenue growth issues to high costs and narrow profit margins, despite Intel’s historical dominance of the CPU chip market over the past 25 years.

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IBM laid off 1,000 employees

According to Yikai, a Chinese media source, IBM has closed its research and development facilities in China, laying off over 1,000 employees. The decision comes as IBM struggles with declining demand for its IT hardware and expansion efforts in China, a market that once offered considerable promise and had a strong business base outside the United States.

Apple laid off 100 employees

Apple recently laid off around 100 employees from its services division, affecting teams involved with the Apple Books app and Apple Bookstore. The reduction included engineering positions. The move is part of Apple’s strategic shift toward prioritizing AI initiatives and de-emphasizing

Lay off Apple 

Earlier this year, Apple cut around 600 jobs in its special projects group due to the closure of certain projects. The company also disbanded its 121-person AI team in San Diego in January.

Dell cut jobs on the sales team

Dell Technologies is restructuring its sales teams with a dedicated AI team. Dell has improved efficiency by simplifying its operating structure and reallocating investments, according to a memo from sales leaders Bill Scannell and John Byrne. The company has laid off 12,500 employees, or 10 percent of its global workforce.

Tech layoff in 2023

Layoffs in major IT companies are expected to increase by 15 percent in 2023 compared to the previous year. According to Layoffs.fyi, in 2023, over 1,150 tech companies would have laid off more than 260,000 people.

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