Microsoft's Game Plan: No Cancellations Amid Job Cuts—What It Means for Gamers!
Microsoft reassures fans; tech layoffs continue while fresh hiring is expected in IT.
Microsoft has confirmed that there will be no game cancellations or studio closures due to recent job cuts. This is good news for gamers and developers.
Job Cuts at Qualcomm and Dell
Qualcomm plans to lay off 226 employees in San Diego in 2024, following a previous reduction of over 1,250 workers. Dell Technologies is also reducing its workforce due to low demand for PCs.
Udemy's Restructuring Plans
Udemy will cut its workforce by 50% as part of a major restructuring plan. They aim to rehire workers in regions with lower costs.
Hiring Freshers in IT
Despite layoffs in 2024, the IT services sector expects to hire many freshers in FY25. Entry-level positions could reach over 150,000, double from last year.
Global Layoff Trends
Layoffs are happening worldwide, not just in tech. Companies like Samsung and PwC are reducing their workforces to manage costs.
2023 Tech Layoffs
In 2023, layoffs in tech increased by 15%. Over 1,150 tech companies cut more than 260,000 jobs. Amazon, Microsoft, and Meta all announced major job cuts.
In July 2024, layoffs continued in the tech sector, bringing the total for the year to over 124,000 jobs lost.
Ford's Plans in India
Ford is looking to make electric vehicles in Tamil Nadu, India, after closing its local factories three years ago. The company employs 12,000 people in Tamil Nadu and plans to add 3,000 more jobs soon.
Crude Oil Supply Update
Saudi oil supplies to India have increased, which may give India better bargaining power with oil suppliers for winter needs.
