Tech giant Microsoft has decided to lay off 3% of its employees worldwide. The company had about 2,28,000 employees till June 2024. This means that now about 6,800 employees will lose their jobs. Microsoft also fired 10,000 employees in 2023. The layoffs will affect many departments, levels and areas including LinkedIn. The company says that this layoff is part of the strategy to simplify the organizational structure of the company. A Microsoft spokesperson said, “We are constantly implementing the changes that are necessary to bring the company to a better position.”

HoloLens and other hardware division teams were affected in the company’s layoffs in January 2023. The current layoffs are being done at a time when Microsoft is making big investments in artificial intelligence (AI) and cloud infrastructure. The company has set a target of spending $80 billion to strengthen Azure and AI-services this fiscal year. As soon as the news of layoffs came, Microsoft’s shares reached $449.26. This is the highest level so far this year. In July 2023, the company’s stock reached a record $467.56.

This time, performance is not the reason, but strategy is the reason

Microsoft has clarified that this time the layoffs are not performance based. That is, the people who are losing their jobs are not being fired because of their work. The aim of the company is to reduce the layers of management and make work easier.

The special thing is that Microsoft performed better than expected in its quarterly results in April 2024. Still, this layoff shows that Microsoft wants to use its resources more effectively. The series of layoffs in the tech sector continues. Meta also laid off 5% of its employees through performance-based exits this year, while Salesforce has eliminated more than 1,000 positions. Both companies are also moving towards an AI-focused strategy.

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However, it has not been revealed how many employees were laid off. Oculus Studios is a unit that makes virtual and augmented reality games for Meta’s Quest headset. This layoff was first revealed by The Verge and later confirmed by CNBC.

This is why Meta’s Oculus Studios was laid off

A Meta spokesperson said that Oculus Studios is being restructured to help it better work on future mixed reality experiences for growing audiences. However, this strategy has resulted in the loss of jobs for many employees. This has affected the developers of Meta’s important virtual reality efforts, including the Supernatural fitness app. A note related to the layoffs has been published on the official Supernatural Facebook group.

How is the health of Reality Labs

Earlier this year, the company had fired about 5 percent of its low-performing employees. Meta is under pressure to streamline business and rein in expenses at Reality Labs. Its experimental division is building a metaverse through devices and software. Reality Labs had an operating loss of $497 crore in the last quarter of 2024 i.e. October-December 2024 and revenue was $1.1 billion.

Meta’s March quarter results are due on Wednesday. In these results, analysts will especially keep an eye on the company’s strategy regarding VR and AR. This is because Meta’s rival companies Apple and Samsung are exploring mixed reality in their own ways.

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Boeing caught in a huge debt trap

It is being told that Boeing is currently facing many challenges at the global level. Last year, the company had talked about reducing its workforce by 10 percent. However, the company has not given any reaction regarding the recent layoffs. Sources have informed that some positions have definitely been affected under the strategic adjustment of the company, but it is being ensured that it does not have any impact on customers or government operations.

More balanced layoffs in India

The company said that while some old roles have been eliminated, some new roles have also been created. The company has done the layoffs in a more balanced manner while focusing on maintaining customer service, safety and quality standards in India. Let us tell you that the work of making advanced aerospace is done at Boeing India Engineering and Technology Center (BIETC) in Bangalore and Chennai.

Boeing gets a big contract

Meanwhile, on Friday, US President Donald Trump gave Boeing a contract to build the most modern fighter jet ever for the US Air Force. Due to this, the company’s shares rose tremendously. This sixth generation fighter jet to be built for the US Air Force under the Next Generation Air Dominance (NGAD) program will be known as the F-47, which will replace the fifth generation F-22 Raptor.

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After which the employees created a ruckus on Wednesday night. When the employees asked the reason, the company told the reason as closure of the project and investigation. After which the employees protested outside the company.

Employees made these allegations

The faces of the employees looked sad after losing their jobs. The company justified this step on the basis of rules and agreement. However, the employees alleged that the company regularly fires hundreds of employees on one pretext or the other after the completion of the project. This time too, the company fired them in the name of investigation. The employees say that the company is punishing them by resorting to allegations of fraud, while they were not at fault.

The condition of the employees is critical

After this sudden layoff, the condition of the employees has become serious. Employee Abhinav expressed his pain and said that in this crisis, he and many people like him are facing serious financial and mental troubles. Household expenses, EMI and family responsibilities have now become a challenge for them. Some employees described their situation as so serious that they even considered suicide.

An employee said that his team was working for a bitcoin company, but the entire project got affected due to the fraud committed by two members of the team. After this, HR sent a message to all the employees informing them not to come to the office and asked them to submit their identity cards and other belongings. The company gave a 13-day notice citing the 8.1 agreement, while according to the rules, a 90-day notice should have been given. The employees say that they did not commit any mistake, but they are being punished on the charge of fraud.

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Last month itself, 33,000 employees went on a long strike, which badly affected production. The company is also forced to stop production of some aircraft from the year 2027. Now to improve the poor financial condition, the company has announced a 10 percent reduction in its workforce and has said that it will lay off about 17,000 of its employees. Boeing has 170,000 employees worldwide.

The company is taking such a step to reduce rising costs and cut down expenses. The decision to lay off employees is expected to be effective in mid-January. Most of Boeing’s employees work in production units located in South Carolina and Washington state in the US. The company’s CEO Kelly Ortberg has said in a letter to employees that these changes have been made keeping in mind the company’s financial situation. Kelly clarified that work on previously announced projects will continue.

Senior officials will also lose their jobs.

Ortberg told the employees last month that the job cuts will include officers, managers and employees. Ortberg told the employees that our business is going through a difficult phase and tough decisions have become necessary to deal with the challenges.

The company will also stop the production of planes

Apart from layoffs, Boeing has also announced to stop the production of commercial 767 cargo planes from 2027. Apart from this, the rollout of the new 777X has been postponed till 2026 due to technical flaws found in the company’s new aircraft 777X. It is worth noting that after two fatal accidents, the company had to stop the production of its aircraft, 737 Max. Due to this, the company has also faced many safety and regulatory challenges.

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This is being done as part of efforts to reduce costs. Nokia last year planned to cut 14,000 jobs to reduce costs and save between 800 million euros and 1.2 billion euros by 2026. These layoffs are part of that plan.

According to Reuters, a Nokia spokesperson confirmed that the company has begun consultations regarding the layoff of 350 employees in Europe. But declined to comment on the layoffs in Greater China. According to the company’s annual report, as of December 2023, Nokia had 10,400 employees in Greater China and 37,400 in Europe.

Nokia currently has 78,500 employees

When Nokia announced the job cuts last year, its total employees were around 86,000. The company plans to reduce its workforce to between 72,000 and 77,000 by 2026. Nokia currently has a little over 78,500 employees, the spokesperson said.

China was once the second largest market

China was once Nokia’s second-largest market. But contracts from Chinese telecom operators for both Nokia and Ericsson declined after Western countries banned Huawei from 2019. About 27% of Nokia’s net sales came from Greater China in 2019, while the contribution was less than 6% in the latest quarter.

Operating profit increased by 9% in the September quarter

Nokia’s operating profit grew 9 percent in the July-September 2024 quarter, largely due to cost cuts. But the company’s net sales were lower than estimates, causing its shares to fall 4%. According to Reuters, the spokesperson said the company has already made gross savings of 500 million euros. Nokia CEO Pekka Lundmark has said, “We are not cutting costs in such a way that we have to give up R&D output. I am happy with the pace of cost reduction. We are slightly ahead of our schedule.”

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The series of layoffs continues in big tech companies. This time tech giant Google has announced the layoff of 100 employees of its cloud unit. The company has recently cut at least 100 jobs in various cloud unit teams including sales, operations, engineering and strategy. Google says that these cuts are a strategic move to streamline its workforce.

However, the layoffs come at a time when some of the affected employees recently worked at Google Cloud Next, a major industry event held in April. This has raised concerns about a lack of resources and tight deadlines for the remaining employees, especially given Google’s recent record profits.

Hundreds of employees laid off this year

Google has reduced its workforce several times this year. In January, the company cited economic uncertainty as the reason for laying off hundreds of employees across various departments. There were layoffs in April as well, but the exact number has not been disclosed. Most recently, in May, at least 200 jobs were cut from Google’s core engineering teams.

Also Read: No relief from Delhi High Court for companies filing IT returns late

The cuts begin in 2023, with Alphabet aiming to reduce its workforce by about 6%. CEO Sundar Pichai has expressed a desire to minimize layoffs in the future. Google has clearly stated that the company is adapting its business strategy to create synergy according to current market conditions.

TikTok lays off 1000 employees

Popular short-video platform TikTok has laid off 1,000 employees globally. The layoffs have affected employees from operations and marketing teams. Although TikTok has given limited official reasons for the layoffs, industry analysts are speculating on several possible reasons.

Walmart

is reportedly cutting jobs and asking employees from various tech centers to relocate. The layoffs are expected to impact the company’s corporate employees, as the largest retailer has been trying to reduce its workforce for some time. The exact number of employees laid off from Walmart has not been revealed yet.

Microsoft and Tesla are also not far behind

Microsoft’s gaming division saw job cuts in the month of May. The tech giant shut down Redfall developer Arkane Austin, Hi-Fi Rush developer Tango Gameworks, Alpha Dog Studios and several other developers. A report by IGN claims that some of the affected employees will be relocated while some will have to leave their jobs.

At the same time, Tesla, owned by Elon Musk, has fired thousands of employees from software, service and engineering departments. According to a report, the company has fired more than 6,700 employees from several places including Texas and California.

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Layoffs were first announced by Amazon in November last year. This announcement made by the company at that time had an impact on operations in India and around 500 employees were furloughed.

180 employees furloughed from gaming division

According to the latest information, 180 employees have been furloughed from Amazon’s gaming division. In a mail sent by Christoph Hartmann, Vice President at Amazon Games, it was said that the company has decided to make some changes in its games initiative. Along with this, he further said that it has been decided to shutdown the Crown channel which streams on Twitch. Apart from this, it has also been decided to close down the unit marketing the products.

Amazon has announced job cuts in the gaming unit at a time when the company had laid off more than 100 employees in April itself. These layoffs have been made to the San Diego studio in its Prime Gaming and Game Growth divisions.

Layoffs also started from music and podcast divisions

News agency Reuters reported that Amazon has started layoffs in the music and podcast divisions. The company is focusing its entire attention on developing ‘Blue Protocol’ and free games. Let us tell you, free games are offered with Prime Gaming.

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Alphabet has become the first company to lay off employees in the second quarter of the current financial year. The company has already slowed down hiring. Tech companies started layoffs in the beginning of 2023 and the phase of laying off employees is not over yet. Along with Alphabet, many big tech companies including Meta and Amazon have already laid off many employees.

According to news agency Reuters, Alphabet has decided to eliminate hundreds of positions. This is not part of wide-scale layoffs. The team strength will be retained for important roles. Alphabet cut about 12,000 jobs in recruiting and engineering teams in January. This layoff of employees was done across the world, which is about 6 percent of the total workforce. Amazon had announced cuts in 18,000 jobs. Microsoft had also shown the way out to 10,000 employees.

Layoffs have increased four times.

Companies all over the world including America are firing employees. Along with big companies, startups have also shown the way out to their employees. Gray and Christmas job cuts in the US more than tripled in August from July and nearly quadrupled compared to the year-ago period, according to a report by employment firm Challenger. In a survey conducted by Reuters, the Economist had estimated that new claims for unemployment benefits in the US would increase by about 8 percent in the week ending September 9.

That’s why layoffs are taking place:

Amidst economic uncertainties, tech companies around the world are cutting jobs to rationalize their operations, cut costs and bring efficiency. This is the reason why apart from Google, many tech companies like Amazon, Meta and Microsoft have shown the exit door to a large number of employees this year.

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