Staff reductions continued to plague the technology industry in early July as several big names were forced to part with thousands of employees. Microsoft reportedly let go of hundreds across teams and regions without providing specifics. Sources said product and program management roles bore the brunt. A spokesperson stated organizational changes are routine to support strategic growth and customers.
UKG also reduced its headcount by around 14%, impacting approximately 2,000 people including many in marketing, business and sales. The HR software firm had grown to over 15,000 staff through acquisitions. OpenText similarly trimmed 1,200 positions globally as part of a $200 million cost optimization program.
Indian edtech startup Unacademy dismissed 250 personnel, most from marketing and sales. Since 2022, they had eliminated around 2,000 rolls to adapt after school reopenings lowered demand. A spokesperson commented the restructuring aimed to streamline operations and boost efficiency for sustainable growth.
Cumulatively, over 3,500 tech professionals lost their jobs in early July due to these cutbacks. Data shows 360 industry names have laid off more than 1,00,000 staff worldwide already in 2024. Companies cite economic uncertainty compelling cost discipline and reevaluating bloated structures post-mergers. The downturn is expected to continue impacting tech talent until growth and demand stabilize.
