"Mass Layoffs in Tech: 27,000 Jobs Gone in August 2024" The tech industry is facing a serious challenge, with over 27,000 jobs being cut in August 2024 alone. Major players like Intel, Cisco, IBM, and Apple have significantly downsized their workforces, citing reasons such as restructuring, market shifts, and disappointing financial results. This wave of layoffs has continued to raise concerns, as it reflects a broader trend of job losses across the industry. In this blog, we will explore the reasons behind these massive layoffs, the specific impact on each company, and the broader implications for the tech sector. The Growing Trend of Layoffs in the Tech Industry The job cuts in August 2024 are not an isolated incident. To date, over 136,000 tech workers have been laid off in 2024, with 422 companies participating in these reductions. The pace of layoffs has been accelerating throughout the year, showing a concerning trend. These layoffs are driven by various factors, includ
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