Homework: Image by Tony Alter (CC BY 2.0)
As layoffs continue to shake the technology sector, a new report reveals the tech companies that have slashed the most jobs in 2024 so far. Data shows that in the UK, at least 6,036 employees in tech companies have lost their jobs since January.
The firm BestBrokers has aggregated data on layoff announcements from global gaming companies using TrueUp, an IT job portal, and Obsidian, a note-taking app that tracks gaming industry layoffs.
This showed that from January to October 18, 2024, more than 254,000 employees in the technology sector have been laid off, with more than half of all layoffs announced by U.S.-based companies while in the UK, 6,036 employees have been made redundant.
With 2,157 workers let go, London-based rapid grocery delivery startup Zapp tops the list of tech companies slashing the most jobs in the UK this year. Luxury fashion e-retailer Farfetch ranks second with roughly 2,000 employees being laid off following the acquisition by South Korean retailer Coupang.
The UK-based tech companies laying off the most employees this year are:
- Zapp – London, 2,157 layoffs
- Farfetch – London, 2,000 layoffs
- Ocado – Hatfield, 1,000 layoffs
- Sumo Group – Sheffield, 250 layoffs
- IHS Towers – London, 100 layoffs
- SuperMassive Games – Guildford, Surrey, 90 layoffs
- Sourceful – Manchester, 80 layoffs
- XR Games – Leeds, 72 layoffs
- nDreams – Farnborough, Hampshire, 44 layoffs
- Healthy.io – London, 40 layoffs
Out of the 254,023 employees laid off globally in the tech sector this year, 144,332 have worked for companies based in the United States. South Korean tech companies are responsible for another 14,615 layoffs, followed by Chinese companies slashing 14,175 jobs.
Overall, since January 2024, the top 20 tech companies on our list have collectively laid off 150,327 employees. This figure represents more than half of all global tech job cuts, which total 254,023 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 percent 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 percent 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.
U.S. retail giant Amazon ranks in third place with more than 14,900 layoffs announced since January. The company is reducing its global workforce from 105,770 to around 90,000 by eliminating mostly managerial positions in a move intended to save between $2.1 billion and $3.6 billion a year.
This post was originally published on here
