In 2024 the companies have been sacking employees; Toshiba to Cut 5,000 Jobs and on the other hand, and Google will also layoff employees.
According to various media reports, Toshiba Corp. is allegedly considering to Layoff its Japanese workforce by 5,000 employees.
The layoff will impact nearly 7 per cent of its total workforce in Japan. This strategic shift signifies a departure from Japan’s traditional reluctance towards layoffs, indicating an evolving mindset amidst enduring labor scarcities within the nation.
Toshiba’s restructuring mirrors its overarching strategy of consolidating operations, which involves the reintegration of its energy, infrastructure, devices, and IT business units into the central headquarters.
This initiative aims to eliminate redundant divisions and achieve operational efficiency through streamlined processes.
An American multinational corporation and technology company, Google has announced the second major round of job cuts in 2024.
As reported by Hindustan Times, Ruth Porat, chief financial officer at Google, wrote in the memo as per the report, “The tech sector is in the midst of a tremendous platform shift with Al.”
“As a company, this means we have the opportunity to make more helpful products for billions of users and provide faster solutions to our customers, but it also means we collectively have to make tough decisions, including how and where we work to align with our highest priority areas”, Ruth Porat added.
In 2024, the companies may resort to layoffs for various reasons including Financial Challenges, Restructuring, Technological Changes, Technological Changes, and Performance Issues.
As per the latest layoffs so far in 2024, there have been 475 layoffs at tech companies with 103,138 people impacted (938 people per day).
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