The platform confirmed that U.S.-based firms account for the lion’s share—72.5%—of the total, letting go of 65,545 employees.
Leading the layoffs is American tech giant Intel, which is expected to axe up to 25,000 roles—roughly 20% of its workforce—by year-end.
Other major cuts include Japan’s Panasonic, with 10,000 jobs slashed, and Microsoft, which has dismissed 8,840 employees despite strong financial performance.
California, the heart of U.S. tech, has seen the highest number of layoffs at 38,352, followed by Washington, Texas, Massachusetts, and Arizona.
The report suggests financial pressures, automation, and organisational restructuring are driving the cuts. Traditional roles in coding and data analysis are in decline, as are once-hot jobs in AI and prompt engineering.
Interestingly, firms like Microsoft and Meta have continued downsizing despite posting record profits. If the current trend persists, RationalFX forecasts total tech sector layoffs could reach 235,871 by the end of 2025—an average of 646 job losses per day.
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