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The tech industry has been struggling with massive layoffs since early 2023, and the trend has only continued into 2024, showing no signs of slowing down. Here’s a comprehensive report by BestBrokers and shared by MarketsChain revealing the 20 tech companies that have cut the most jobs this year so far.
RELATED: 2024 Tech Layoffs: U.S. companies account for more than half of global job cuts
After analysing more than 800 layoff announcements posted on the IT job portal TrueUp, covering the period between January 1 and September 2, 2024, the team at BestBrokers found that a staggering 211,033 employees have been laid off across over 194 tech companies globally. In August alone, 45 companies operating in the technology sector announced layoffs, affecting 41,336 people worldwide.
Major tech players like Intel, Tesla, Li Auto, and SAP have all made significant workforce reductions so far this year, often citing cost-cutting measures and a shift toward AI technologies as key reasons.
Leading the pack, however, is Texas-based PC manufacturer Dell, which has cut a staggering 18,500 jobs across two rounds of layoffs. These cuts account for 8.77% of all global tech layoffs this year so far and 15.38% of the 120,283 positions lost at U.S.-based tech companies.
This follows Dell’s previous fiscal year job cuts when it eliminated 13,000 positions due to declining PC sales. Despite the workforce reductions, Dell saw a 9% year-over-year revenue increase in the second fiscal quarter of 2025, driven by a surge in server sales, generating $25 billion in revenue and $841 million in net profit.
These are the 20 technology companies with the largest workforce reductions since the start of 2024:
Here are some key insights from our report:
- Since January 2024, the top 20 tech companies on our list have collectively laid off 121,216 employees. This figure represents 57.44% of all global tech job cuts, which total 211,033 so far this year.
- Dell stands out for cutting the most tech jobs since the beginning of the year. After eliminating 6,000 positions in March, the company recently announced another round of cuts, shedding 12,500 employees, about 10% of its workforce, as part of a strategic shift toward AI-driven products and services.
- Intel, the semiconductor giant based in California, ranks second with layoffs affecting more than 15% of its workforce or around 15,000 employees. This cost-cutting move, aimed at saving $10 billion by fiscal 2025, follows a disappointing earnings report for the April-June 2024 period.
- In third place is EV manufacturer Tesla. The company has reduced its workforce by about 10%, translating to roughly 14,000 job losses. This decision came after the company missed delivery estimates and reported a rare year-over-year drop in sales.
- Chinese EV maker Li Auto has shed 10,000 jobs, which amounts to 77.52% of all job cuts by Chinese tech firms in 2024 so far. Meanwhile, German software giant SAP cut 9,500 positions as part of its ongoing restructuring plan.
- Japanese electronics company Toshiba and American networking equipment manufacturer Cisco have also trimmed their teams. Since the beginning of the year, they have laid off 9,000 and 8,000 employees, respectively.
- Other major tech staff reductions have come from Turkey’s Getir (6,000 job cuts), India’s Paytm (5,000 job cuts), Spain’s Telefonica (3,421) and the United States’ Microsoft (3,400 job cuts).
For more detailed information and the distribution of global tech layoffs in 2024 so far by country, please refer to the full report here. You can access the raw data on Google Drive via this link. Feel free to use any data or graphics, but please make sure to give proper attribution by including a link to the original work.
