The tech industry continued its downward spiral in August 2024, with over 27,000 job cuts announced by 40+ companies. This brings the total tech job losses for the year to over 136,000

The surge in layoffs is primarily attributed to substantial reductions at prominent industry leaders like Intel and Cisco, which contributed significantly to the overall increase in job losses

Major IT firms such as Intel, IBM, and Cisco have laid off over 27,000 employees across the globe in August 2024

On August 14, it was reported that Cisco Systems was planning to lay off about seven per cent of its employees in its second round of layoffs this year. The layoffs come at a time when the company has been shifting its focus to more rapidly growing areas in technology – AI and cybersecurity.

Tech companies laid off over 27,000 workers in August 2024, affecting more than 40 firms like Intel, IBM, Cisco, and startups. Intel announced 15,000

The number of employees laid off by companies keeps increasing every month. In August, several prominent firms, such as Apple, IBM, Sephora, GM, and others, fired several employees

Many tech companies have cut jobs at a rapid pace this August as more than 27,000 employees in about 50 companies, including big names like Apple, Intel, IBM, and Cisco announced layoffs

August saw one of the biggest workforce reductions in the technology industry, impacting over 27,000 employees collectively. Major companies like Apple , IBM, Cisco, and Intel announced job cuts across verticals in response to the ongoing economic downturn.