Tech layoffs surge in August with 27K job cuts, highest since January: US, China, and Canada impacted

The wave of layoffs seems to be continuing unabated as thousands of professionals have lost jobs in August. This month saw the highest number of layoffs since January, when 34,107 people were laid off from 122 companies. In August, 44 companies collectively laid off 27,065 of its staff.

While August saw a significant rise in job cuts, July reported 39 companies firing 9,051 staff as reported by layoffs.fyi, a portal that keeps track of layoffs in real-time. The significant rise is due to the major job cuts announced by Intel and Cisco. Intel let off as many as 15,000 of its workforce, while Cisco axed 5,900 jobs.