By Natalia Rueda 
In the wake of recent economic difficulties, including anxiety over potential recessions and stock market fluctuations, news of massive layoffs at some of the world’s largest companies has sent shock waves through the global economy. Numerous perspectives are emerging that highlight different aspects of these economic challenges.
Job cuts
In a series of major job cuts this month, some of the major players in the technology industry are feeling the effects of an unstable global economy. With major players such as Intel, Dell, Microsoft and UKG announcing layoffs, the future of the technology industry looks uncertain.
Dell: Although it has not confirmed exact figures, it is rumored that it could lay off up to 12,000 employees worldwide. The company justifies this decision as a necessary step towards a “leaner” structure in preparation for the era of artificial intelligence.
Intel: Intel, the semiconductor giant, is leading this wave of layoffs with plans to reduce its workforce by more than 15,000 employees, representing more than 15% of its total staff. This move is part of a broader strategy to cut costs by $10 billion by 2025.
Microsoft: Although the company has made no official announcements, it is reported to have reduced its workforce by approximately 1,000 employees, primarily in the mixed reality and Azure divisions. The move suggests a shift in the company’s priorities and possibly a reassessment of its investments in emerging technologies.
UKG: UKG, a Massachusetts-based software company, has announced a 14% reduction in its workforce, resulting in the loss of about 2,200 jobs.
Intuit: A financial management software company, has made public its intention to cut approximately 10% of its workforce, amounting to about 1,800 jobs.
Dyson: In the UK, home appliance giant Dyson has announced plans to lay off 1,000 employees, affecting more than 25% of its domestic staff. The company’s CEO, Hanno Kirner, cites intense competition and rapid technological advances as reasons for the decision.
As the technology industry plays a crucial role in the global economy, these job cuts will undoubtedly have a ripple effect and contribute to the growing unemployment crisis, so far in 2024 already 124,517 layoffs at 384 companies worldwide.