-
- Published: June 7, 2024 17:37
New Delhi: With the ‘AI boom‘ percolating in the market, is the technical landscape changing the course of employment forever? The answer is becoming increasingly simple for big companies like Google and Microsoft as they lay off people in huge chunks. Amidst a drive for charting favourable expansion plans and a drive to incorporate AI in the day-to-day working of the company, both companies have issued warnings for massive labour cuts in the coming days.
According to insider reports, both tech giants will lay off around 1000 employees across various departments. Furthermore, according to various news, it is believed that Google Cloud, which is one of the key cloud computing domains is already initiating a workforce reduction in the sales and the engineering departments.
Good Morning Everyone! Layoffs announced YTD:
– Google: 12,000 (6% of workforce)
– Microsoft: 10,000 (5%)
– Salesforce: 8,000 (10%)
– Amazon: 8,000 (2%)
38,815 tech workers have been laid off in 2023 pic.twitter.com/dN1RCD8Phe— Genevieve Roch-Decter, CFA (@GRDecter) January 20, 2023
Meanwhile, following in the footsteps of Google, Microsoft has also gone ahead with a humungous slicing of the workforce. This intense restructuring of the company has trickled down through the Mixed Reality Team eating away 1000s of the job at the USA based firm.
What is the Industry impactof these massive layoffs?
The massive layoffs at the Microsoft and the Google address a massive problem that stretches far from the problems gripping these two companies. Developers like Arkane Austin, Tango Gameworks and Alpha Dog Studios have also gone ahead with similar restructuring which could see huge chunks of workforce getting the pink slip in their hands.
Automobile companies like Tesla and hardware companies like Toshiba are also not behind who have decided to retrench a significant number of employees from their organisation.
Layoffs Continue at Every Tech Company – Now The Top Companies in Tech Are Coming Under Antitrust Investigation – AI Regulation Coming $NVDA $MSFT #OpenAI #AI https://t.co/qLNxxhPGvv
— Private Suite Network | CJ (@PSuiteNetwork) June 7, 2024
To put these layoffs into perspective, April 2024 saw a total of 21,473 layoffs followed by a relatively lesser layoffs of 9,742 jobs in May 2024. However, in the first six days of June it is reported that 1,410 jobs have been axed and it is going to be more worse as the month goes ahead.
Tech layoff 2024: 7 days into June and Microsoft and Google have already fired hundreds of employeeshttps://t.co/gi6fHcQd8t
— IndiaTodayTech (@IndiaTodayTech) June 7, 2024
The question that we should all ask now what is the kind of structuring that these tech companies are looking for? Simultaneously, people must also ponder that is AI really helping us grow or making us a liability for the growing economies around the world….
