Major Layoffs In September: Samsung, PwC, Microsoft, Cisco, Qualcomm And More

Biggest companies like Samsung, PwC, Cisco, and many more announced firing sprees this month, affecting thousands of employees across the world, leaving them uncertain about the future

The consultancy giant PwC's US division laid off around 1,800 employees

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Layoffs have affected employees all over the world, leaving them uncertain about their future. Industries across different sectors have been grappling with difficult financial times post-pandemic, leading to one of the most significant side effects of layoffs. Biggest companies like Samsung, PwC, Cisco, and many more announced firing sprees this month, affecting thousands of employees.

Here is the list of some of the most significant layoffs this month:

Samsung Layoffs

Samsung Electronics is reportedly considering a global workforce reduction of up to 30 per cent in specific divisions, according to a Reuters report citing insider sources. The South Korea-based company has instructed its global subsidiaries to cut sales and marketing personnel by around 15 per cent. In comparison, administrative staff could see reductions of up to 30 per cent.

PwC Layoffs

The consultancy giant PwC's US division laid off around 1,800 employees, marking its first official job cuts since 2009. This decision is part of a restructuring initiative within its technology group. It is a response to a decline in demand for certain advisory services, according to a report from the Wall Street Journal.

Microsoft Layoffs

Microsoft is eliminating 650 jobs from its Xbox division in a new wave of layoffs, marking the second significant reduction in its gaming sector this year. This follows an earlier cut of approximately 1,900 positions in January 2024. The company stated that these layoffs are part of a broader restructuring initiative aimed at streamlining its gaming operations, particularly following its major acquisition of Activision Blizzard.

Cisco Layoffs

Tech giant Cisco has announced a new round of layoffs this year, resulting in job losses for approximately 5,600 employees, representing about 7 per cent of the company's workforce. This latest reduction follows a previous downsizing in February when Cisco laid off over 4,000 employees.

Qualcomm Layoffs

Qualcomm, a smartphone chip manufacturer, has announced plans to lay off 226 employees in San Diego later this year, according to a California WARN notice. The layoffs, initially reported by The San Diego Union-Tribune, are scheduled to take effect during the week of November 12.

Akzo Nobel Layoffs

Dulux paint manufacturer Akzo Nobel announced plans to reduce its global workforce by approximately 2,000 jobs. This decision is part of a larger strategy to cut costs throughout the company. The layoffs will primarily impact positions at its head offices, as the Dutch firm aims to streamline operations and improve efficiency in light of current market conditions.

Paramount Layoffs

Paramount Global announced a second round of layoffs on Tuesday as part of a broader strategy to reduce costs in response to traditional media companies' challenging landscape. This decision will impact multiple divisions within the company, including prominent networks like CBS, Comedy Central, and MTV.

Disney Layoffs 

Walt Disney is initiating layoffs at the corporate level as part of its ongoing strategy to boost profitability. This decision comes as the company seeks to streamline operations and enhance financial performance in a challenging market environment.