Technology cuts in March 2024: Apple, Dell, IBM and more to lay off thousands | Technology News
The wave of layoffs in the technology industry shows no signs of slowing down even into the second half of March 2024. Major companies in the industry continue to cut jobs as economic headwinds continue. Here are the top five tech companies that have made significant job cuts this month:
Ericsson to lay off 1,200 people due to sluggish 5G demand
Swedish telecommunications giant Ericsson announced on March 25 that it would lay off about 1,200 employees in its home country due to weak demand for 5G network equipment. The job cuts are part of a broader cost-cutting plan for 2024 that includes reducing consultants, streamlining processes and cutting equipment.
Ericsson said it expects traffic to contract further this year, resulting in a “tough mobile network market” as customers remain cautious with their spending. Last year, the company laid off 8,500 people, or 8% of its workforce, to cut costs, leaving the company with nearly 100,000 employees worldwide by the end of 2023.
Dell cuts employees in cost-cutting drive
Dell Technologies has cut jobs as part of a broader cost-cutting initiative that also includes limiting outside hiring and restructuring its workforce, the company said in a March 25 filing. As of Feb. 2, Dell had about 120,000 employees, down from about 126,000 a year ago.
The layoffs come as demand for Dell’s PCs has been weak, with sales dropping 11% in the fourth quarter. Dell warned of short-term challenges and rising input costs for PC-accommodating clients.While he expects sales for the solutions sector to increase this year, he warned of short-term challenges and rising input costs.
Apple cancels micro-LED display project, lays off dozens of people
In a move that marks the end of another costly R&D initiative (following the Apple Car division), Apple has discontinued internal efforts to develop microLED displays for future Apple Watch models, according to sources. . bloomberg The display promised brighter, more vivid visuals, but it turned out to be too complex and expensive to pursue further.
As a result, Apple reorganized its display engineering team and laid off dozens of employees across the US and Asia. Some affected employees may find new roles within the company, while others may be laid off with severance pay.
IBM cuts marketing and communications headcount
Jonathan Adashek, IBM’s chief communications officer, informed marketing and communications employees of the impending layoffs in a roughly seven-minute meeting on March 12, according to people familiar with the matter. CNBC This was reported based on sources familiar with the matter.
The job cuts are part of IBM’s latest “workforce rebalancing” effort, after it announced plans last August to replace about 8,000 roles with AI technology. IBM said it expects to end 2024 with about the same size of global workforce as it started the year.
Turnitin cuts staff as CEO expects AI to reduce headcount
Plagiarism detection company Turnitin laid off about 15 people earlier this year as part of organizational changes. tech crunch The job cuts are notable, considering CEO Chris Caren commented last year that the use of AI could reduce Turnitin’s engineering headcount by 20% within 18 months.
Curren said that of the hundreds of engineers the company had at the time, the company would eventually “need 20% of that number” thanks to AI-driven efficiencies. Turnitin uses machine learning to scan student writing for plagiarized content.
In summary, layoffs seem to be an inevitable reality at this point. As if economic uncertainty wasn’t enough, employees now also face the imminent threat of generative AI. More names will be added to this undesirable list in the coming months.
