Last year, Google spent a total of $2.1 billion on severance pay. The tech layoffs were thought to be left behind in 2023, but tech giants continue to conduct job cuts with some saying that it was due to cutting costs.
This comes just weeks after the company announced its October to December quarter results, which revealed that its total headcount fell by 4,473 employees. Wipro Layoffs 2024: Indian Multinational IT Firm Likely To Cut Hundreds of Mid-Level Jobs To Improve Margins.
Faizal Bin Yahya is Senior Research Fellow in the Governance and Economy Department of the Institute of Policy Studies, Lee Kuan Yew School of Public Policy, National University of Singapore. Faizal was previously an assistant professor in the South Asian Studies Program at the University, and simultaneously was a visiting research fellow at the Institute of Southeast Asian Studies from 2008 to 2009. Faizal served as a member of the Singaporean Delegation to the United Nations in 1998 and participated in multilateral meetings on pertinent environmental issues such as climate change. Faizal was appointed as a Board Member to the Competition and Consumer Commission of Singapore in 2019. Faizal was an Overseas Postgraduate Research Scholar and obtained a PhD in Economics from the University of Sydney, Australia
According to data from Layoffs.fyi, a layoff-tracking website, a total of 2,62,595 employees were laid off last year by 1,187 tech companies. So far in January, 91 tech companies have already fired 24,564 employees.
Notable major technology and media corporations in the United States have begun 2024 with a fresh round of job cuts, with reasons citing the global economic crisis that is expected to remain persistent in the new year.