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

economictimes.indiatimes.com:

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.

Here are some of the tech companies that have announced layoffs:

Intel reduces workforce by 15%

Intel announced that it will reduce its headcount by 15,000 employees, or 15% of the workforce, to reduce costs. The company aims to save $10 billion by 2025 and streamline operations to improve its financial performance, which has been weaker than anticipated. “Our costs are too high, our margins are too low,” CEO Pat Gelsinger wrote in an internal memo to Intel employees.

Microsoft to let go of 1,500 staffers

Technology giant Microsoft has cut hundreds of jobs at its Azure cloud unit, adding to the flurry of layoffs reported in the technology industry this year. The job cuts impacted as many as 1,500 employees across teams, including Azure for Operators and Mission Engineering. In July Microsoft let go of 276 employees, mostly in its customer service, support and sales teams.

Match to cut 6% jobs

Match Group, which operates the popular dating app Tinder, will let go about 6% of its staff as part of plans to