Tech layoffs 2024 live updates: SAP and eBay join list of companies trimming headcounts

SAP, a leading German software company, has revealed its plans to restructure its workforce in 2024, with 8,000 employees being affected by the changes. The company said in a statement that it aims to increase its focus on Business AI, one of its key strategic growth areas, and to transform its operations to achieve more synergies, efficiencies, and scalability with AI.

SAP had 107,602 full-time employees as of December 2023, and it is unclear how many of them will be laid off as part of the restructuring. However, the company stated that most of the 8,000 impacted positions will be addressed by “voluntary leave programs and internal re-skilling measures,” implying that the total number of employees will not change significantly by the end of the year.

eBay announced on Tuesday that it will cut about 9 per cent of its workforce, or roughly 1,000 full-time employees, as part of a cost-cutting and restructuring plan. The online marketplace giant also said it will reduce its reliance on contractors and consultants. The news came as a surprise, as eBay’s stock rose 3 per cent in after-hours trading.

The company’s CEO, Jamie Iannone, broke the news to the staff in a letter posted on the company’s blog. He said the layoffs were necessary to align the company’s expenses and headcount with its business growth. He also said the company will undergo some organisational changes to streamline certain teams and improve the customer experience.

Tencent-owned Riot Games has reportedly decided to cut 11 per cent of its workforce which amounts to nearly 530 employees. The company known for 'The Legend of Legends' is also shutting down its publishing group Riot Forge. 

“For those who are leaving… I want to reiterate, we are deeply sorry for the impact this has on you and your family. I can’t thank you enough for everything you’ve done for Riot, and for your dedication to players. We’re committed to doing our best to support you in this moment and through this transition,” CEO Dylan Jadeja wrote in his post. 

Popular short-form video platform, TikTok has sacked dozens of its staff from its advertising and sales unit. A spokesperson of the company said that the company is cutting as many as 60 jobs. The company has not cited any specific reason for the layoffs, however, it has said that affected employees can apply for other open positions at TikTok. The app owned by ByteDance has over 150 million users in the US.

Google isn't done with job cuts. The tech giant said it will lay off 100 employees from the YouTube's creator management and operations teams. The company said fired employees can apply for other roles in the company within 60 days. According to The Verge, a recent memo shared by Google CEO Sundar Pichai suggests that more job cuts are underway.

Lost Boys Interactive, a Gearbox owned video game developer with 400 employees has fired a sizable portion of the company, according to a report by Aftermath. Several employees including a producer shared the news on the social media platform LinkedIn, saying that the layoff 'affected all disciplines at all levels.'

According to a Washington State WARN Act notice, the company fired 125 workers worldwide. Founded in 2017, Lost Boys Interactive has worked on a lot of known titles like Diablo IV, The Quiet Man, and Tiny Tina's Wonderlands before being acquired by Borderlands developer Gearbox.

Meta-owned social media platform Instagram has reportedly laid off 60 technical program managers positioned between engineers and product managers. According to a report by Business Insider, these people have until March to apply for a new role in the company or find a job elsewhere.

Based on some posts on LinkedIn and Blind, a platform for tech employees, these employees will be able to apply for the product manager position. However, Meta has yet to confirm the layoffs officially.

Language learning app Duolingo has been steadily laying off it staff. Althouhg it is unclear, how many of its employees were impacted in the fresh round of layoffs, the company has been sacking staff in favour of AI transaltors. The company has begun firing its contract writers and translators. In 2023, it was reported that the Duolingo had a strength of 700 full-time employees. The company has not released any official statement. 

Meanwhile, social chat and messaging service Discord on Thursday said that it will be axing nearly 17 per cent of its staff. Based on a report in The New York Times, around 170 jobs will be impacted by the latest round of sackings at Discord.

Tech giant Google has sacked hundreds of its staff from its hardware, voice assistance, and engineering teams as part of its cost-cutting measures. The fresh round of job cuts comes at a time when the company is looking towards responsibly investing in its biggest priorities and significant opportunities, as revealed in its official statement. “Some teams are continuing to make these kinds of organisational changes, which include some role eliminations globally,” it said.

Amazon's audiobook and podcast service, Audible, is laying off about five per cent of its workforce. This is the third round of job cuts at Amazon this week. In a memo sent to employees Thursday, Audible CEO Bob Carrigan said the company is in good shape, but faces an “increasingly challenging landscape.”

“We did not take this route without considerable thought,” Carrigan said. “But getting leaner and more efficient is the way we will need to operate now — and in the foreseeable future — in order to continue delivering best-in-class audio storytelling to our customers around the world.”

According to The Verge, Google has confirmed that it has cut "a few hundred" jobs in its hardware, engineering, and assistant teams. However, the actual number of affected employees may be higher, as Google spokesperson Courtenay Mencini refused to comment on the full extent of the layoffs, only acknowledging the reports from 9to5Google and Semafor, The Verge reported.

Mencini said that the layoffs were part of Google's efforts to "become more efficient and work better", and that some teams were still undergoing "organizational changes" that involved "some role eliminations globally".

According to sources, Google has laid off several senior Fitbit executives, including co-founders James Park and Eric Friedman, along with employees from the Devices and Services teams working on products like Nest, Fitbit, and Pixel. This sweeping job cut suggests Google is rethinking its hardware strategy and essentially winding down the Fitbit brand it acquired for $2.1 billion in 2019.

While the Pixel team appears least affected, Google's Augmented Reality division saw hundreds of layoffs, indicating the company is likely halting its own AR hardware plans. Historically, Google's hardware efforts operated as independent mini-companies focused on certain product categories.

However, in an apparent effort to unify and streamline operations, Google now seems to be transitioning to a more functional structure with a centralized hardware team working across Pixel, Nest, and Fitbit. It remains to be seen if this move will bring cohesion to Google's fragmented device strategy.

According to an internal note, Amazon will lay off several hundred employees from its Prime Video and Amazon MGM Studios divisions in the Americas this week, with similar cuts coming globally by the end of the week.

This downsizing comes after Amazon cut over 27,000 jobs last year amid a wave of Big Tech reductions following pandemic-era hiring sprees. Despite spending billions on content like “The Lord of the Rings: The Rings of Power” and the acquisition of MGM Studios, Amazon is refocusing its streaming investments on more high-impact areas.

With tech giants and startups alike feeling the heat, the industry is witnessing a concerning downsizing trend, indicating growing economic challenges. While companies aim for profitability, thousands of talented employees are dealing with unexpected job losses in the very first week of 2024. The worst part? More are expected to follow.

The new year has seen a troubling start for the tech industry, with major companies announcing significant layoffs impacting thousands of employees just in the first week of 2024. E-commerce giant Amazon is cutting about 500 jobs, around 35% of the workforce, at its livestreaming subsidiary Twitch, as it struggles with losses and executive departures.

Indian fintech leader Paytm also made headlines by letting go of over 1,000 employees, more than 10% of its staff strength, across departments in recent months as it withdraws some services. Flipkart, another top Indian e-commerce player, is contemplating laying off 5-7% of its 22,000 employees excluding Myntra, which could mean 1,100-1,500 roles shed, despite delaying its IPO to 2024.

Unity Software, which provides tools for game developers, announced plans to cut 25% or 1,800 of its global workforce. And AI startup Humane with its first product on the horizon, made a smaller trim of 4% or 10 roles.