In 2024, job cuts in the U.S. are continuing at a worrying pace, a trend that started last year.
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While fears of a recession are easing, many companies remain cautious, leading them to slash their workforce.
This trend has serious implications for Indian professionals working for these global giants or in related sectors.
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The tech industry, a major employer of Indian talent, has been particularly hard-hit.
Amazon, a key player in e-commerce and cloud services, has made significant layoffs across its various divisions, including Buy with Prime, Audible, Twitch, and Amazon Web Services.
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This affects not only the U.S. workforce but also Indian employees working remotely or in outsourced roles for these divisions.
Alphabet, Google’s parent company, has also been cutting jobs, particularly in its X Lab, advertising sales, and hardware divisions like Pixel and Fitbit.
Microsoft has reduced about 1,900 positions in its gaming sector, while IBM plans layoffs but is focusing on hiring for AI roles.
For many Indians working in these areas, this means increased job insecurity.
Intel’s decision to cut around 17,500 jobs, which is 15% of its global workforce, is another significant blow.
Indian engineers and technical staff involved in Intel’s operations might face uncertainty as the company restructures its manufacturing business.
eBay, Unity Software, DocuSign, Snap, and Salesforce are also reducing their staff. Tech giants and financial firms like PayPal and Citigroup planning massive layoffs.
In the automotive sector, Tesla plans to cut over 10% of its global workforce due to declining sales and competition.
Even retailers like Walmart and Nike are cutting jobs, and healthcare and manufacturing companies are also making significant reductions.
Indian professionals in related sectors may face job loss or reduced opportunities.
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