Return of pink slips? Intel, Microsoft, Tinder parent Match hit by layoffs

After a brief slowdown in mass layoffs, tech companies have again resorted to job cuts to rein in costs, even as advancements in generative artificial intelligence continue to disrupt business. So far this year, 384 tech companies have fired 124,517 employees, according to layoffs tracker website Layoffs.fyi.

Chip major Intel, Windows maker Microsoft, Tinder parent Match are among the companies that have announced mass layoffs so far. Back home, Indian tech startups are also shedding jobs amid a difficult funding environment and overall valuation reset.