In an effort to reduce costs, the tech industry continued to lay off workers in March as well. This month, five multinational tech corporations have let go of about 8,000 workers. Among them are Ericsson, Apple, IBM, and Dell.
The telecom equipment manufacturer Ericsson announced 1,200 employee layoffs in Sweden on the 25th of this month. This year, the corporation made this decision with cost-cutting in mind. These consist of facilities, reorganizing processes, and reducing advisors. 8,500 employees were let go by the corporation the year before.
Apple abandoned the Micro-LET display initiative.
This month, Apple terminated a costly research and development (R&D) initiative. The development of microLED displays for upcoming Apple Watch models has been put on hold by the corporation. Apple reorganized the display engineering team as a result, which led to a significant loss of jobs in both America and Asia.
After two years, Dell has laid off 1.2 lakh employees in its second significant layoff.
For the second time in two years, American computer company Dell Technologies has laid off employees. This time, the business let go of 6,000 workers. The company employed 1.26 lakh people a year ago; as of right now, 1.20 lakh people work there. This decision was made by the corporation in an effort to reduce costs.
IBM reduced the number of workers in the communications division by half.
More than half of the staff members in the marketing and communications department were let go by IBM Chief Communications Officer Jonathan Adashek on March 12. The corporation had previously declared in August 2023 that it would use artificial intelligence (AI) to fill roughly 8,000 positions.
