From Microsoft to IBM: Tech layoffs cross 1 lakh mark as companies brace for more cuts ahead

Layoffs across the tech sector continued into the second half of 2024, with several high-profile companies slashing jobs as part of their restructuring efforts. IBM, for instance, began a second round of layoffs, primarily targeting senior programmers, sales, and support staff as part of its ongoing “workforce rebalancing” strategy. The company aims to reduce a low single-digit percentage of its global workforce but expects to finish the year with roughly the same number of employees it had at the beginning.