Lay Off Trend: Tough Time For Employees In August!

We are yet to come out of the layoff crisis which started after the Covid outbreak triggered the Lockdown. The companies that went for the recruitment in big numbers started to sack the employees citing various reasons. The layoff trend is still intact across the sectors.

Even in 2024 the fear is not over as we are hearing about layoffs. August has been a tough time for the tech sector as over 27,000 employees were sacked. Even the big names went for layoffs raising many fears among the employees.

Big players like Intel, IBM, Cisco and others also sacked the employees. Big companies removing employees speaks volumes about the ongoing trend.

Intel has the highest sackings with 15000. As part of the reduction plan for the next financial year around 15 percent of the workforce was removed. Cisco Systems announced the sacking of 6000 employees followed by Infineon(1400 jobs), IBM(1000), GoPro(140), and Apple(100).

Of late the companies are focusing on reducing the costs by making the workplace short and crisp. The same happened in August too as over 27,000 employees were sacked across the companies.

2024 has been a tough time for the employees as over 136,000 employees were sacked by the companies so far.