HomeNewsTechnologyTech employees face brutal start to 2024 as layoffs continue

Tech employees face brutal start to 2024 as layoffs continue

According to data from Layoffs.fyi, a layoff-tracking website, a total of 10,963 employees have been let go by 63 tech companies.

January 25, 2024 / 21:13 IST
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Cult.fit, earlier known as Curefit, had raised $150 million in 2021 in a round led by Zomato.
Cult.fit, earlier known as Curefit, had raised $150 million in 2021 in a round led by Zomato.

Just weeks into the new year, the tech industry is already casting a dark shadow over its employees.

According to data from Layoffs.fyi, a layoff-tracking website, a total of 23,620 employees have been let go by 82 tech companies.

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TikTok, the popular short-video app, became the latest casualty. The company laid off around 60 employees, primarily from its sales and advertising departments, according to an NPR report.

This follows a wave of layoffs from tech giants like Google and Amazon earlier in the month, all attempting to cut costs after a pandemic-fueled hiring spree.