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April 2024 Layoffs: Amazon, Apple, and Tesla Announce Job Losses

By Nithya Bose in Business News, posted May 7, 2024

US-based employers announced a major drop in job cuts for April 2024, recording 64,789 reductions, Challenger, Gray & Christmas reported.

This marks a 28 percent decline from the previous month's figure of 90,309.

Despite the decrease in layoffs, the tech sector continues to experience turbulence.

According to Layoffs.fyi, the tech industry saw 60,000 job cuts across 254 companies in early 2024.

High-profile layoffs have included companies like Tesla, Amazon, Google, TikTok, Snap, and Microsoft.

April 2024 was particularly harsh, with major layoffs at Tesla, Google, and Apple, impacting over 20,000 employees.

The industry turmoil extends beyond large corporations, with several smaller startups downsizing significantly or ceasing operations.

Auto and Tech Sectors Face Major Impacts

The auto industry faced the brunt of April's layoffs, with Tesla announcing a drastic reduction.

The automaker slashed 14,000 jobs or 10 percent of its global workforce.

Overall, the auto sector saw 14,373 job cuts in April, contributing largely to the total industry cut of 20,189 for the year—a 108 percent increase from last year.

Meanwhile, the tech sector, although leading in job cut announcements with 47,436 this year.

This shows a 58 percent decrease from the 113,944 job cuts noted during the same period in 2023.

Cost-cutting has led to the most job cuts this year, totaling 73,767 while restructuring efforts account for another 55,947.

Artificial Intelligence has also emerged as a notable factor, with 800 job cuts specifically attributed to AI in April—the highest monthly total since tracking began in May 2023.

The recent downturn in job cuts offers a temporary reprieve for the US labor market.

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