Tech Sector Hit Hard: 90,000 Jobs Cut, Silent Layoffs on the Rise in 2024

Facing economic pressures, tech firms adopt silent layoffs, intensifying employee stress.

25 June 2024

More than 90,000 IT employees already lost jobs in 2024, many are now facing silent layoffs. The tech industry is experiencing significant job losses in 2024, with a worrying trend of silent layoffs now affecting many IT workers. As of the first half of this year, 98,834 employees have been dismissed by 337 tech companies, driven by ongoing efforts to cut operational costs amidst economic uncertainties.

Silent layoffs, an increasing practice in the sector, involve quietly pressuring employees to leave without public announcements. According to reports, major Indian IT firms have discreetly laid off between 2,000 to 3,000 employees in the initial five months of the year. This method typically gives employees a 30-day period to find a new role within the company before termination, heightening job insecurity and stress.

Both the All India IT & ITeS Employees’ Union (AIITEU) and the Nascent Information Technology Employees Senate (NITES) have pointed out that silent layoffs disproportionately impact experienced and higher-paid employees. While these layoffs offer notice periods, unlike ‘quiet firing’, they still place immense pressure on employees to quickly secure alternative positions.

As the tech industry continues to navigate these turbulent times, the rise of silent layoffs presents significant challenges for the workforce. The industry must address these issues and find ways to support affected employees amidst ongoing economic difficulties in 2024.