In November 2024, a wave of layoffs has swept through various industries, as companies globally adjust their workforce to manage economic pressures and changing business strategies. These cuts have affected a diverse set of sectors, from automotive and technology to agriculture and manufacturing.
Behind the decision to reduce headcount, these firms cite restructuring, financial reallocation, and the need to streamline operations in an uncertain economic climate. The scale of these layoffs has left thousands without jobs, highlighting the vulnerability of certain roles in times of financial realignment. This article explores the notable layoffs in November 2024, examining the companies affected, the extent of the cuts, and the implications for the workforce in different sectors.
Audi
German automaker Audi announced it would reduce its workforce by 15 percent, targeting roles outside of production. This decision impacts around 4,500 indirect jobs in Germany alone, with reports indicating that the layoffs will largely affect positions in areas like development.
According to Manager Magazin, thousands of non-production roles will be at risk, with over 2,000 jobs expected to be cut. The move aligns with Audi’s broader goal of optimizing its operational structure and focusing resources on production and innovation in electric and autonomous vehicles. Audi’s decision reflects the shifts within the automotive industry as traditional carmakers face fierce competition from electric vehicle upstarts and struggle with high production costs.
By cutting these non-core roles, Audi aims to maintain financial stability and drive efficiency, but the impact on thousands of livelihoods underscores the cost of staying competitive in an increasingly digital and electric-driven sector.
Freshworks
In the software sector, Freshworks, a prominent player in the SaaS market, announced a 13 percent reduction in its global workforce, affecting approximately 660 employees. Freshworks, headquartered in San Mateo, California, has a substantial presence in India, where a significant portion of its staff operates. CEO Dennis Woodside communicated this decision in a letter to employees, stating that the move was necessary to align resources with strategic priorities.
Freshworks is undertaking a restructuring process designed to improve efficiency, with expected charges ranging from $11 million to $13 million in the fourth quarter of 2024. The layoffs are part of a broader strategy to streamline operations and ensure the company remains competitive in an evolving SaaS industry. This strategic shift, while financially beneficial to the company, raises questions about job security in tech roles traditionally seen as stable, particularly in regions like India, where Freshworks maintains a large operational base.
Outreach
Another major tech player, Outreach, also announced a 9 percent reduction in its workforce this month. Outreach, a software firm specializing in sales automation, laid off over 65 employees globally, primarily in go-to-market roles. These layoffs mark another round of job cuts for the company, which previously reduced its workforce by 12 percent in September 2023.
Outreach’s decision is reportedly a response to ongoing cost-management strategies as the firm seeks to stabilize its financial outlook and continue supporting its clients. With notable clients such as Zoom, Twilio, and McKesson, Outreach has aimed to strengthen its product while navigating financial uncertainties. In response to the layoffs, Outreach is offering severance packages, career counseling, and benefits to affected employees.
Bowery Farming
The agriculture technology sector has not been immune to this wave of layoffs. Bowery Farming, once a promising player in the indoor farming industry, announced a complete shutdown of its operations. The company, which had raised more than $700 million from investors like General Catalyst, Fidelity Management, and even celebrities like Natalie Portman and Lewis Hamilton, had aimed to revolutionize modern farming.
Despite partnerships with major retailers such as Whole Foods and Amazon Fresh, Bowery could not secure additional financing or find a buyer, ultimately leading to its decision to close down all operations and lay off its employees. This move marks a significant end for a company valued at $2.3 billion at its peak and challenges in the agtech sector, where capital-intensive operations and volatile market conditions make survival difficult.
The Mozilla Foundation
The Mozilla Foundation, the non-profit organization behind the Firefox browser, laid off 30 percent of its employees this month in a significant restructuring effort. Aiming to increase agility and focus, Mozilla has decided to discontinue some of its long-standing projects and reallocate resources.
According to Brandon Borrman, Mozilla’s communications chief, this decision was made to enhance Mozilla’s ability to impact the tech industry in a meaningful way. The layoffs represent a substantial portion of the foundation’s workforce, with the number of affected employees reaching nearly 40.
While Mozilla’s goal is to focus on initiatives with a high potential for societal impact, the decision has sparked concerns about the future of smaller non-profit tech projects that may not align with the foundation’s newly defined objectives.
iRobot
In a similar vein, iRobot, known for its popular Roomba vacuum cleaner, has laid off 105 employees — approximately 16 percent of its workforce. This follows earlier layoffs this year, which affected 350 employees, or about 31 percent of its staff, after a planned acquisition by Amazon fell through due to regulatory issues in the European Union.
The termination of the deal came with a $94 million fee from Amazon, but despite this financial cushion, iRobot found it necessary to proceed with additional cuts as part of an “operational restructuring plan.”
CEO Gary Cohen addressed the layoffs during iRobot’s Q3 2024 earnings call, acknowledging the need for adjustments in light of the company’s evolving financial situation. The layoffs are part of iRobot’s broader effort to stabilize its position in the market while balancing product development and operational costs.
ShareFile
In the software sector, ShareFile, a document management platform acquired by Progress Software for $875 million, is also undergoing significant layoffs. Progress Software, the Massachusetts-based parent company, announced that it would cut nearly 200 positions at ShareFile’s headquarters in Raleigh, North Carolina, just five days after completing the acquisition.
These layoffs will occur gradually, with most cuts taking place in early 2025 and extending through midyear. The decision to downsize came swiftly after the acquisition, illustrating the challenging landscape for tech firms trying to merge operations post-acquisition and align resources with newly defined goals.
