On October 18, 2024, significant layoffs continue across several sectors, reflecting the challenging economic landscape for tech companies:
- Cisco announced further layoffs in September 2024, cutting 7% of its workforce (around 5,600 employees). This followed earlier layoffs in February 2024 due to declining demand for certain products.
- Qualcomm is preparing to cut an additional 226 employees in San Diego by the end of 2024, following a wave of layoffs earlier this year.
- WeTransfer, now owned by Bending Spoons, reduced its workforce by 75%, a drastic move aimed at increasing profitability.
- Samsung is reportedly considering slashing up to 30% of its workforce in sales, marketing, and administration divisions.
These ongoing cuts reflect broader industry trends as companies restructure and seek to manage financial challenges.