Global Tech Layoffs Exceed 4.25 Lakh with Over 36,000 in India Amid AI Integration
Artificial intelligence (AI), an advanced technology, is displacing millions of jobs each year. With the increasing adoption of this technology, tech companies and startups globally are actively downsizing their workforce. Against the backdrop of the ongoing global economic slowdown, some companies assert that laying off employees is a strategy to cut costs.
Over the past two years (until December 26, 2023), over 425,000 employees have been laid off globally, with more than 36,000 of them affected in India, according to the Layoffs. FYI website, sectors such as retail tech, consumer tech, and fintech have witnessed significant employee layoffs this year.
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Amazon, for example, announced layoffs in its Alexa voice assistant division, citing shifts in business priorities and a greater emphasis on artificial intelligence utilization. The affected employees are primarily from the United States, India, and Canada. Amazon had previously laid off 27,000 employees earlier in the year, extending to its gaming and music teams.
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