Tech layoffs 2024: Second week of May sees over 2,000 layoffs, Indian companies follow suit

The spate of layoffs in the tech industry seems to be continuing unabated. In the first nine days of May, over 2,000 people have been laid off from their jobs by various tech companies as per Layoffs.fyi. The companies have cited their usual reasons such as economic downturn, shifts in consumer demands, technological changes and automation, etc.

The rising number of layoffs from various industries seems to be signalling a shift in the economic landscape and this could likely have long-lasting effects. In the last week, companies from sectors including finance, healthcare, and technology reported layoffs.