Tech layoffs 2024: September sees steep decline in layoffs, overall job cuts at 1.4 lakh

From a leading battery maker to a US-based edtech firm, September witnessed numerous companies laying off their employees. However, the overall monthly tally remained staggeringly low compared to August.

The job cuts in September were dominated by Northvolt, Microsoft, and Udemy. (Image: FreePik)

After the sudden spike in August where 44 companies laid off 27,065 employees, the highest since January 2024, September saw a steep decline in layoffs. In September as many as 30 companies sacked 3,765 employees. This is a radical decline from the previous month, which saw heavyweights like Intel sacking 15,000 and Cisco cutting 5,900 jobs. Based on the information from layoffs.fyi so far 511 companies have laid off 1,39,206 employees.

September was marked by job cut announcements by battery giant Northvolt, Microsoft, and online learning giant Udemy. Northvolt announced that it plans to cut 25 per cent of its workforce in Sweden as part of a major cost-cutting initiative, while Microsoft laid off as many as 650 staff from its videogame workforce, and Udemy said that it will reportedly reduce around 20 per cent of its staff.

Cost-cutting drive

On September 22, battery maker Northvolt announced that it plans to cut around 1,600 jobs in Sweden as part of its major drive to reduce costs. The company in an update published on its official website said that it was taking the initial steps as a part of a strategic review. According to the company, this strategic action requires it to reduce its global workforce by around 20 per cent and 25 per cent in Sweden. The company said that the measures would lead to the ‘redundancy of roughly 1,600 employees including 1,000 jobs at its factory in Skelleftea.

Also Read | Tech layoffs 2024: Over 8K job cuts worldwide, around 600 Indian professionals impacted in July

The Stockholm-based company is seen as one of Europe’s most significant privately-held tech firms and is known for building lithium-ion batteries for electric vehicles. Northvolt has partnerships with numerous automotive companies such as Volvo and Volkswagen.

More job cuts at Microsoft

On September 12, tech behemoth, Microsoft, announced that it was laying off around 650 staff from its gaming business based on a memo shared by Xbox chief Phil Spencer. In the memo, the CEO said that the roles that would be most impacted by the job cuts would be corporate and support functions. He further clarified that no games, devices, or experiences were impacted by the decision and no studios are being closed.

With this, Microsoft has sacked 2,550 of its staff from its gaming business since acquiring Activision Blizzard for $69 billion in 2023. In the memo, Spencer made it clear that the job cuts were indeed related to the acquisition.

Udemy job cuts

US-based edtech firm, Udemy, announced that it was planning to reduce around 20 per cent of its workforce, which is around 280 employees. The layoffs announced by the company are owing to its restructuring plan which would likely cost it between $16 million and $19 million. The latest layoff is following a Strategic Business Update in July when Udemy announced that it had lost $50 million in the first six months of the year. In its SEC filing, the company said that it expects to rehire approximately half of the impacted roles primarily in lower-cost geographies.

Bijin Jose

Bijin Jose serves as an Assistant Editor at Indian Express Online in New Delhi. A seasoned technology journalist with a diverse portfolio, he brings over a decade of experience in the media industry to his coverage of the evolving digital landscape and emerging technologies. Experience & Career Bijin commenced his journalistic journey in 2013 as a citizen journalist with The Times of India. His career trajectory includes significant tenures at prestigious media organizations including India Today Digital and The Economic Times. This diverse professional background, ranging from legacy print institutions to dynamic digital platforms, culminated in his current leadership role at The Indian Express, where he helps shape the publication's technology narrative. Expertise & Focus Areas Bijin has transitioned from general reporting to a specialized focus on the intersection of technology and humanity. His key areas of expertise include: Artificial Intelligence: deeply tracking developments in AI, providing nuanced perspectives on its ethical,industrial, and societal implications. Tech Commentary: moving beyond product specifications to analyze how technology reshapes daily life. Diverse Reporting Foundation: draws upon a robust background in crime reporting and cultural features to bring a human-centric approach to technical storytelling. Authoritativeness & Trust Bijin’s editorial voice is informed by a strong academic foundation, holding a Bachelor of Arts in English from Maharaja Sayajirao University, Vadodara, and a Master of Arts in English Literature. This literary background enables him to deconstruct complex technical jargon into accessible, compelling narratives. His steady progression through India’s top newsrooms underscores his reputation for editorial rigor and reliable journalism. Find all stories by Bijin Jose here ... Read More