From Microsoft to IBM: Tech layoffs cross 1 lakh mark as companies brace for more cuts ahead

The second half of 2024 saw continued layoffs across the tech sector, with major companies like IBM, Cisco, and Microsoft significantly reducing their workforces. The ongoing restructuring and cost-cutting measures, prompted by economic challenges, are impacting both large corporations and smaller startups. Despite these layoffs, projections for the IT services sector in FY25 show a promising rebound in fresher hiring.