Tech layoffs 2024: Over 100,000 IT jobs cut in second half of the year

Layoffs in the tech industry continued into the second half of 2024, with numerous prominent companies cutting around 100,000 jobs as part of their restructuring plans. IBM, for example, initiated a second wave of layoffs, primarily targeting senior programmers, sales personnel, and support staff as part of its ongoing “workforce rebalancing” strategy. The company aims to reduce a small percentage of its global workforce but anticipates ending the year with a similar employee count as it had at the start.