India, Dec. 3 -- Nearly 150,000 employees of large corporations, including Tesla, Intel, Microsoft, and Cisco, are facing layoffs as part of a massive wave of layoffs in the IT sector in 2024. Fears of a recession, rising prices, and the growing impact of artificial intelligence (AI) on the labor market are some of the leading causes of this trend. Businesses are taking preemptive steps to cut expenses as economic uncertainty looms, frequently leading to employment reductions. Enterprises focus on efficiency and streamlining operations due to their struggling revenues and profitability.

Employees are worried about their job security due to the increasing layoffs, which point to a possible catastrophe in the computer industry. As business...