Technology News

September Sees Major Layoffs Across Global Giants: Samsung, PwC, Microsoft, and More

30 September 2024

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Zaker Adham

Summary

Several prominent companies, including Samsung, PwC, Cisco, and others, have announced major layoffs this September, impacting thousands of employees worldwide. The layoffs are a response to challenging financial times, with industries struggling to recover from post-pandemic economic conditions. These layoffs have left employees in various sectors facing uncertainty about their future as businesses seek to restructure and cut costs.

Here’s a summary of the most notable layoffs this month:

Samsung Layoffs

Samsung Electronics is reportedly planning to reduce its global workforce by as much as 30% in certain divisions. According to insider sources cited by Reuters, the South Korean tech giant has directed its subsidiaries to downsize their sales and marketing teams by about 15%, while administrative departments could face reductions of up to 30%.

PwC Layoffs

PwC's U.S. division has laid off approximately 1,800 employees, marking the consulting firm’s first major job cuts since 2009. This move is part of a broader restructuring within its technology group, primarily due to a dip in demand for specific advisory services, as reported by the Wall Street Journal.

Microsoft Layoffs

Microsoft has announced the elimination of 650 jobs within its Xbox division, marking the second significant wave of layoffs in its gaming sector this year. Earlier in 2024, the company cut around 1,900 positions. The decision comes amid restructuring efforts following its acquisition of Activision Blizzard.

Cisco Layoffs

Tech giant Cisco has laid off about 5,600 employees, representing 7% of its total workforce. This is the latest in a series of reductions following an earlier cut in February, where the company shed over 4,000 jobs. These layoffs are part of ongoing efforts to streamline operations.

Qualcomm Layoffs

Qualcomm has announced it will lay off 226 employees in San Diego later this year, according to a California WARN notice. This decision, reported by The San Diego Union-Tribune, is set to take effect in mid-November as the company looks to adjust its workforce.

Akzo Nobel Layoffs

Akzo Nobel, the manufacturer of Dulux paints, plans to cut around 2,000 jobs globally. This workforce reduction is part of a cost-saving initiative targeting head office positions as the Dutch company seeks to improve operational efficiency.

Paramount Layoffs

Paramount Global has announced a second round of layoffs as it looks to cut costs in response to the evolving challenges faced by traditional media companies. The move will affect several divisions, including high-profile networks like CBS, Comedy Central, and MTV.

Disney Layoffs

Disney is rolling out corporate-level layoffs as part of its strategy to boost profitability and streamline operations in a difficult market environment. The entertainment giant continues to restructure its business to remain competitive.