Despite the rapidly evolving technology industry, new developments and innovations, advances in artificial intelligence, and the industry’s consolidation as a global leader, companies continue to reorganize their budgets, laying off employees.

Amidst the billions of dollars being invested in AI technology and the confidence that tech giants are heralding towards it, the lay off trend in #tech business continues in 2024.

This past March, dozens of companies laid off employees, struggling with challenging market conditions. While the losses that tech firms have suffered since the beginning of January have been many times less than previous years, curbing inflation and an improving economic picture are not enough to end the layoffs.

Below you’ll see a list of companies that laid off employees in March, some of which have permanently suspended operations, TechCrunch reports.

ChowNow

ChowNow has laid off 20% of its staff following the acquisition of sales platform Cuboh. This isn’t the first layoff for the company, which laid off 100 people in 2022.

Nintendo of America

The company everyone knows is restructuring its testing department, at the expense of the employees it’s made up of. A Nintendo spokesperson told Kotaku that the changes will put an end to some tasks, but will result in the creation of new full-time positions. However, whether the hopeful plans for employees will come to fruition remains to be seen.

Dell

Dell has reduced its global workforce by about 6,000 jobs, according to a 10-K filed with the SEC. The filing reveals that the company has cut 13,000 jobs over the past year.

Synctera

Synctera also makes the list of companies that have entered the lay off trend. A Fintech Business Weekly report said the layoffs affected 17 people, or about 15% of the company.

ShopBack

ShopBack has eliminated 195 positions in an effort to become more sustainable, CEO Henry Chan wrote in a blog post. The layoffs affect nearly a quarter of the company’s employees.

Airmeet

Airmeet has cut 20% of its total workforce in its second restructuring in the past year.

Chipper Cash

CEO Ham Serunjogi announced in a blog post that he has made another round of cuts affecting 20 employees.

Textio

Texito has reportedly made 16% of its staff redundant in a strategic move to support its Textio Lift product.

Stash

The company has laid off about 25% of its employees. According to Axios, the layoffs affect about 80 people.

Phantom Auto

Phantom Auto has ceased operations after failed attempts to secure new funding, TechCrunch reports. The remote driving startup, which laid off employees last year, employed just over 100 people.

IBM

IBM also made the list of companies that laid off employees in March. This time, the company laid off its marketing and communications workforce. Earlier, IBM announced a strategy to replace up to 8,000 jobs with artificial intelligence.

Inscribe.ai

Inscribe.ai has laid off just under 40% of its staff, the company confirmed to TechCrunch.

Turnitin

Turnitin is another company that laid off around 15 people earlier this year, following comments from CEO Chris Karen that the company would be able to cut 20% of its staff again thanks to artificial intelligence.

Sorare

Sorare has laid off 13% of the people working in its New York office. According to claims from a source via TechCrunch, the reason for this is that fantasy sports platform Web3 is focusing on its Paris headquarters.

Project Ronin

Project Ronin has carried out a mass layoff that has affected around 150 employees. The reason for it is the winding down of the company.