Tech layoffs: TCS, Microsoft, Intel among 5 slashing thousands of jobs in apparent AI restructure
Microsoft, too, has let go of more than 15,000 employees this year. On top of that, around 2,000 workers labelled as underperformers have also exited the company. This comes even as Microsoft is reporting strong earnings and hitting record-high stock prices. In a memo to employees, CEO Satya Nadella acknowledged the layoffs and said he understands how difficult this period has been for everyone. Despite the company's solid financial health, he said restructuring is necessary to stay aligned with long-term goals, especially as Microsoft continues to invest heavily, around $80 billion — in building AI infrastructure.Intel job cutsIntel is making one of the biggest cuts this year, with plans to reduce its workforce by about 24,000 employees — roughly a quarter of its total staff. The decision was announced during the company's quarterly earnings update. Intel's new CEO, Lip-Bu Tan, said the company is focusing on becoming leaner and more efficient after overbuilding in areas where demand didn't materialise as expected. As part of this shift, Intel is cancelling some of its factory projects in Germany and Poland, and is moving some work from Costa Rica to Vietnam — impacting around 2,000 employees in Costa Rica alone.Meta layoffsMeanwhile, Meta has made fresh job cuts in its Reality Labs division, which looks after its VR and AR products, including games for its Quest headsets. While the company did not share exact numbers, teams working on some notable projects like the Supernatural fitness app were affected. Meta said the goal is to streamline operations and improve focus on future mixed reality experiences. Earlier this year, Meta had also cut 5 percent of its workforce in a separate round, targeting underperforming staff.Panasonic layoffsadvertisementJapanese tech giant Panasonic has also joined the list, with a plan to cut 10,000 jobs as part of a broader effort to reduce costs and invest more in future technologies like AI. About half of these cuts will be in Japan, with the rest overseas. CEO Yuki Kusumi said the company is shifting away from slower segments like TVs and some industrial products, and expressed regret over the decision but emphasised that these steps are necessary for long-term growth.- Ends
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