Bengaluru job crisis: 50,000+ IT layoffs, real estate hit hard

Bengaluru faces a major job crisis as AI-driven automation leads to 50,000+ IT layoffs in 2024 as per sources. The downturn threatens ₹3,000 crore in rental earnings as PG occupancies could drop by 30%. Real estate near tech hubs may see 15-20% depreciation, while AI-driven job cuts extend beyond IT into finance and operations. The crisis could reshape Bengaluru’s economy.