The tech industry is grappling with a fresh wave of layoffs this November, as several major companies, including Apple, Hewlett-Packard (HP), Synopsys, and others, implement significant job cuts to streamline operations and adapt to evolving market dynamics. Smaller firms and startups are also bearing the brunt of cost-cutting measures, with some facing potential shutdowns.
HP announces thousands of global layoffs by 2028
HP has disclosed plans to reduce its global workforce by 4,000 to 6,000 positions by 2028. The company aims to improve operational efficiency and accelerate product development through the integration of artificial intelligence (AI). Additionally, HP is cutting 52 roles at its San Jose campus, affecting employees in cloud development, engineering, and product management, according to a TechCrunch report.
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Apple eliminates sales roles across key accounts
Apple is also trimming its workforce, focusing on sales positions that manage accounts for businesses, schools, and government agencies. This move is part of the company’s broader effort to simplify how it sells devices and services.
Synopsys to cut staff and close sites post-acquisition
Following its recent acquisition of Ansys, Synopsys has announced plans to reduce its workforce by 10%, affecting approximately 2,000 employees. The company also plans to shut down several sites in fiscal 2026 as part of these cost-saving measures.
Smaller companies face layoffs and shutdown threats
Startups and smaller firms have not been spared from the wave of layoffs. Monarch Tractor, a company with operations in the United States, India, and Singapore, has informed employees that it may lay off over 100 workers or potentially shut down entirely. Similarly, MyBambu, a fintech company, is shutting down local operations, with all 141 employees set to lose their jobs in two waves - 100 were let go on October 31, and the remaining 41 are scheduled to be laid off by December 31.
Playtika announces fifth round of workforce reductions
Nasdaq-listed gaming company Playtika, valued at $1.5 billion, is moving forward with its fifth round of layoffs since 2022. The company plans to cut 20% of its workforce, amounting to 700 to 800 employees, as it continues its restructuring efforts.
Cybersecurity firms adjust to AI-driven changes
The growing influence of AI is also impacting the cybersecurity sector. Deepwatch has laid off between 60 and 80 employees and attributed AI as a contributing factor in its decision. Meanwhile, Axonius has reduced its workforce by approximately 10%, notifying around 100 of its 900 employees about the layoffs.
Pipe cuts half of its workforce for profitability
In another significant development, Pipe, a small business lender once valued at $2 billion, has announced plans to lay off 50% of its workforce, affecting roughly 200 employees. This move is part of the company’s push to achieve profitability and streamline operations.
The layoffs across these companies highlight the ongoing challenges within the tech industry, as organizations strive to balance operational efficiency with innovation in an increasingly AI-driven market.
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