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In light of the ongoing tech layoff wave, NewsworthyData has released a comprehensive report by BestBrokers revealing the technology firms that have slashed the most jobs in 2024 so far.
RELATED: Massive tech layoffs continue in 2024 with almost 41,800 job cuts year-to-date
After a record-breaking 263 thousand job losses last year, the global technology sector continues to face significant workforce reductions in 2024, driven by economic challenges, high interest rates, and rapid advancements in artificial intelligence. Our team at BestBrokers has analysed over 700 tech layoff announcements from the IT job portal TrueUp and discovered that a total of 203,946 positions have been eliminated across more than 165 tech companies worldwide so far this year.
While tech companies from China, Germany, Japan, and India have all seen massive reductions in their global workforces, U.S.-based firms are at the forefront with 115,257 job cuts, accounting for over half of the global total. Major tech players like Intel, Tesla, Microsoft, and Cisco have each announced significant layoffs, often citing restructuring and AI integration as key reasons. However, leading the wave of layoffs this year is Texas-based PC maker Dell, which has shed 18,500 jobs in two separate rounds.
Here are a few key takeaways from our report:
- U.S.-based tech companies have been leading the global tech layoffs in 2024 so far, accounting for an astounding 115,257 job cuts, or 56.51% of the worldwide total.
- Globally, PC maker Dell tops the list with 18,500 job cuts, followed by semiconductor giant Intel with 15,000 – the largest single round of layoffs since January – and Tesla with 14,000 reductions. Together, these three companies account for roughly a quarter of all tech job cuts worldwide so far.
- Tech companies in China have sacked 12,900 employees, closely followed by firms in Germany with 12,417 job cuts, Japan with 12,240, and India with 8,560. In contrast, companies in Portugal and Russia have announced the fewest staff reductions, with just 18 and 50 job cuts, respectively.
- Within the U.S., tech firms based in California and Texas have led in job cuts, impacting 48,055 and 35,066 employees, respectively, and accounting for over 70% of the nation’s total reductions. Following them are tech companies in Washington and Florida, with 6,949 and 4,099 laid-off workers.
- Conversely, companies in Montana and Virginia have reported the fewest tech job cuts this year, with a combined total of just 90 positions slashed. This number is lower than the reductions announced by companies in any other state on the list.
- Other significant reductions have come from China’s Li Auto (10,000 job cuts), Germany’s SAP (9,500 job cuts), Japan’s Toshiba (9,000 job cuts), and United State’s Cisco (8,000 job cuts).
Here is the distribution of global tech layoffs by country in 2024 so far, with U.S.-based companies leading the way in job cuts:
Below are the top 20 tech companies with the highest number of job cuts this year so far:
For further insights, access the full report. You can access the raw data on Google Drive via this link.
COVER IMAGE: Reuters
