The year 2023 was a challenging one for businesses and their employees all around the world. Layoffs were a common occurrence in several industries, with many companies struggling to stay afloat amidst economic uncertainties. The year started with a significant increase in layoffs, and unfortunately, the trend continued throughout the year.
As we move into 2024, it’s important to reflect on the impact that these layoffs have had on the workforce and the economy as a whole. Unfortunately, the year started with a significant increase in layoffs, with a staggering 98% jump from the previous year. As we approach the end of the first month of 2024, we have compiled a comprehensive list of all the companies that have announced layoffs so far this year.
According to the layoffs tracker website Layoffs.fyi 107 global tech companies laid off nearly 30,000 employees in January 2024.
In 2023 and now in 2024, the tech industry experienced the most layoffs. Our report will detail the companies that downsized, the industries most affected, and the reasons for the job cuts.
US tech and media companies have started 2024 with job cuts due to the ongoing global economic crisis. Here are the ones firing a large percentage of their employees.
Layoffs in January 2024
GameSpot lays off portion of staff
January 31 – Fandom-owned outlet GameSpot has endured a round of layoffs today, as reported by multiple current and now-former employees on social media. The employees’ posts give little detail as to the scope or focus of the layoffs, saying only that “some” people were let go.
American Airlines lays off 656 workers
January 31 – Fort Worth-based American Airlines will lay off 656 workers as it overhauls its customer service department, including more than 300 non-union customer service jobs in Dallas.
Harmon lays off 50 workers
January 31 – Samfiru Tumarkin LLP is investigating reports that Harmon has laid off approximately 50 employees. Several workers at the construction company have contacted our team — claiming that they have been let go.
Flexport laid off 15%
January 31 – Flexport laid off 15% of employees on Wednesday. The layoffs primarily affected employees in corporate and research-and-development teams. Flexport last laid off employees in October.
MemorialCare lays off 72 workers
January 31 – MemorialCare, one of the most prominent health care services providers in Long Beach, has laid off 72 workers at its two local hospitals — and plans to shutter an outpatient pharmacy, effective Friday, Feb. 2.
Proofpoint Lays Off 6%
January 31 – Private Equity-Owned Firm Lets 280 People Go, Moves Jobs to Argentina and Ireland. Silicon Valley-based email security firm Proofpoint is laying off 280 positions two months into the tenure of Sumit Dhawan as its chief executive officer.
PayPal cuts 9% of workforce
January 30 – PayPal will cut 9% of its global workforce, or about 2,500 jobs, CEO Alex Chriss wrote Tuesday in an internal letter to employees, which was viewed by CNBC.
UPS cuts +12,000 roles
January 30 – On Tuesday, after reporting disappointing earnings, UPS announced it would save more than $1 billion by cutting 12,000 of its 85,000 management jobs. The company also will demand that workers be in the office five days a week.
Microsoft cuts +1,900 roles
January 30 – Microsoft said Thursday that it would eliminate 1,900 roles in its video game division, including at Activision Blizzard, which it acquired for $69 billion three months ago.
The job cuts will be made at Activision Blizzard, the maker of hit games like Call of Duty and Guitar Hero, as well as Xbox, according to a staff memo from Phil Spencer, the head of Microsoft Gaming, that was obtained by The New York Times.
Brex 20%
January 23 – Expense management startup Brex, which was valued at $12.3 billion two years ago, laid off 282 people, or about 20% of its staff today.
Discord 17%
Discord is laying off 17 percent of its staff, a move that CEO Jason Citron said is meant to “sharpen our focus and improve the way we work …
Wayfair 13%
January 24 – Online furniture and home goods retailer Wayfair announced it was laying off about 1,650 global employees which is about 13% of its workforce.
Riot Games 11%
January 22 – Tencent’s Riot Games unit said Monday it’s cutting 11% of its workforce, or about 530 jobs, and scaling back on its division that publishes games from small developers.
Salesforce
January 26 – Salesforce laying off about 700 employees, roughly 1% of its global workforce, according to the Wall Street Journal.
Microsoft
January 25 – Microsoft set to lay off 1,900 employees at Activision Blizzard and Xbox.
Paramount Global
January 25 – Paramount Global plans an unspecified number of layoffs, aims to become a leaner organization.
Business Insider
January 25 – Business Insider plans to lay off around 8% of its staff, according to CEO Barbara Peng.
IBM
January 24 – IBM plans to lay off some employees in 2024, but will hire more for AI-centered roles, likely ending the year with its headcount unchanged.
Aurora Innovation
January 24 – Autonomous vehicle technology company Aurora Innovation said it had cut 3% of its workforce as part of a reorganization exercise.
eBay
January 23 – eBay plans to cut about 1,000 roles, or around 9% of its current workforce.
Los Angeles Times
January 23 – The Los Angeles Times plans to lay off 94 journalists who are members of the newspaper’s union.
Amazon cuts several hundred roles
Amazon laid off hundreds of jobs on January 10, 2024. Amazon is letting go of hundreds of employees in its Prime Video and MGM Studios divisions. Mike Hopkins, who oversees those units, sent a note to staffers informing them of the job cuts. The cuts come after mass layoffs at the company that began in 2022 and extended through 2023, with more than 27,000 employees being let go.
- January 18 – The Buy with Prime unit laying off less than 5% of its employees.
- January 11 – Audiobook and podcast division Audible laying off 5% of its workforce, according to a memo from the head of the division.
- January 10 – Amazon set to lay off several hundred employees in its streaming and studio operations, extending job cuts into 2024.
Alphabet
- January 22 – X Lab, Alphabet’s division for developing new technology, laying off dozens of workers and turning to outside investors for funding.
- January 16 – Google, part of Alphabet, laying off hundreds of employees in its advertising sales team.
- January 11 – Google laying off hundreds of people across teams, including the hardware team responsible for Pixel, Nest and Fitbit, and the majority of those in the augmented reality team.
Walt Disney
January 11 – Pixar Animation Studios, part of Walt Disney, set to cut jobs after completing production on some shows and having more staff than needed.
Duolingo 10%
January 10 – Duolingo Cuts 10% of Contractors as It Uses More AI to Create App Content. Move raises concerns about how AI technology will affect jobs
Rent the Runway cuts 10%
January 10 – Rent the Runway, the 14-year-old fashion rental company, is restructuring, cutting 10% of its corporate jobs, which is equivalent to 37 employees. And its chief operating officer and president, Anushka Salinas, will leave at the end of the month, after 11 years at the company.
Blackrock cuts 3%
January 9 – BlackRock, the world’s largest asset manager, will lay off about 600 employees as it seeks to reshuffle its resources in response to technological changes in the financial industry.
Citigroup plans 20,000 job cuts
January 12 – Citigroup plans to cut 20,000 jobs – about 10% of its global staff – over the next two years, as it pushes to streamline operations. The reductions are part of a sweeping reorganisation announced by boss Jane Fraser last year.
Twitch cuts 35% of the workforce
January 9 – Livestreaming streaming platform Twitch to cut 35% of its staff, or about 500 workers, as reported by Bloomberg News.
Unity Software
January 8 – Videogame software provider Unity Software plans to lay off approximately 25% of its workforce, to cut around 1,800 jobs.
