Microsoft, Rivian, Intel Slash Jobs In June Tech Layoff Spree
In June, the tech sector experienced significant layoffs as companies adapted to market changes and AI advancements. Rivian cut 140 jobs (1% of its workforce) to streamline operations for its R2 SUV launch. Bumble reduced its workforce by 240 (30%) to enhance efficiency for new product development. Google downsized its smart TV division by 25%, affecting 75 employees, while Intel plans to lay off 15-20% of its Foundry division. Other companies like Playtika and Microsoft also announced job cuts, reflecting a shift towards AI and operational efficiency in an uncertain economy.
The month of June saw a fresh wave of layoffs across the technology sector, with companies both large and small making significant workforce reductions as they adapt to shifting market demands and the growing influence of artificial intelligence.
Rivian: Last month, electric vehicle manufacturer Rivian Automotive, Inc. RIVN reduced its headcount by approximately 140 employees, about 1% of its workforce.
The layoffs primarily impacted the manufacturing team as the company seeks to streamline operations ahead of its upcoming R2 SUV launch.
Bumble: Online dating platform Bumble, Inc. BMBL announced in June that it would cut around 240 jobs, about 30% of its workforce.
According to an SEC filing, the move is intended to boost operational efficiency so that the company can use the savings toward the development of new products and technologies.
Google: Alphabet, Inc.'s GOOGL GOOG Google also made significant cuts in June, downsizing its smart TV division by 25% which affected up to 75 employees. The company said it is shifting focus and investment toward AI projects as it trims funding for its Google TV and Android TV initiatives by 10%.
Intel: Intel Corp. INTC announced plans to lay off between 15% and 20% of its Intel Foundry division as part of a broader effort to become leaner and more efficient. The company is also winding down its automotive business.
Other notable layoffs include 90 employees at Playtika, 25 employees at Airtime, and another round of cuts at Microsoft Corp. MSFT, which followed May's reduction of over 6,500 jobs.
Microsoft's layoffs affected roles across engineering, product management, marketing and legal.
The wave of tech layoffs in June reflects the industry’s ongoing transformation as companies prioritize AI and automation while seeking efficiency and innovation in an uncertain economy.
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