Tech job cuts continue unabated as over 20,000 sent pink slips in April
Thousands more employees in the tech industry found themselves without a job last month as widespread layoffs continued to plague the sector. According to data compiled by layoffs.fyi, 21,473 workers from 50 companies were let go in April alone.
Electric vehicle manufacturer Tesla topped the list by cutting an estimated 14,000 positions. Consumer electronics giant Apple also parted ways with close to 600 staff. Meanwhile, Turkish quick commerce startup Getir eliminated over 6,000 roles after shutting down operations in multiple key markets.
So far this year, 271 tech firms have collectively axed 78,572 jobs. The February total of 15,589 layoffs marked a drop from January's figure of 34,107, but April saw a significant rebound.
For Tesla, the large-scale cuts occurred as it looked to justify spending and revenue fell short of projections. Reports indicate CEO Elon Musk has not articulated plans to turnaround vehicle demand and instead focuses on ambitious but unproven ventures.
Getir bore the fallout of a precipitous industry decline. Once valued at $12 billion, the company opted last month to solely concentrate on its home country after various international shutdowns.
Indian tech companies similarly trimmed payrolls in April. Bengaluru-based health startup Healthify and content firm Good Glamm Group each reduced 150 roles through restructuring. Another 150 positions went at online learning platform Scaler, citing sustainability goals.
While temporary, prolonged layoffs pose challenges for displaced workers and call into question economic stability across the digital realm. As companies adapt to fluctuating conditions, many experts advocate developing valuable solutions and pursuing sustainable growth over unrestrained hiring and empty promises. With continued changes likely on the horizon, the tech sector works to emerge stronger from present hardships.
