Job cuts in the tech industry are happening quickly and in large numbers

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The tech industry is experiencing one of its worst downturns in years after record gains in the immediate aftermath of the pandemic. Now, some of the industry’s biggest are laying off huge numbers of employees, including Microsoft, Amazon, and even another group of employees, Ed Elon Musk’s Twitter and Microsoft, recently announced that they are laying off about 10,000 employees, or, according to the Associated Press, about 5% of their total number of employees. Due to the pandemic, the company has experienced a *** heavy hiring period, with *** a Microsoft spokesperson saying that demand for its workplace software and cloud computing services had led to *** citations of excessive hiring and that it was simply a reduction of this level. Meanwhile, Amazon just laid off perhaps the largest number of employees in the industry, laying off about 18,000 employees via email. The letter began with a quote. Unfortunately, your role has been removed and added that our primary method of communication will be through the internal email on your device other than Amazon. But at Elon Musk’s Twitter, *** a company that has already cut its staff by more than half, another round of layoffs is underway. Although they said they were done, 50 workers are on the way to being laid off. But Insider reports that many believe that many of the international offices will close soon, bringing the number of employees there to fewer than 2,000, *** the number of employees working for twitter has decreased since it went public in 2013.

Job cuts in the tech industry are happening quickly and in large numbers

Nearly 50,000 jobs were cut in the technology sector in the last month alone. Over the past few years, tech companies large and small have started hiring as demand for their products, software and services has increased with millions of people working remotely. Still, even with all the layoffs announced in recent weeks, most tech companies are still much bigger than they were three years ago. Here’s a look at some of the companies that have already announced layoffs. August 2022 Snapshot: The parent company of social media platform Snapchat says it is laying off 20% of its staff. Snap has grown to more than 5,600 employees in recent years, and the company said at the time that even after laying off more than 1,000 people, its workforce would be larger than it was a year earlier. Robinhood: The company whose app helped bring a new generation of investors to the market announced it will cut its workforce by about 23%, or about 780 people. An earlier round of layoffs last year cut 9% of the workforce. November 2022 Twitter: About half of the social media platform’s 7,500-strong staff has been laid off after it was acquired by billionaire Tesla CEO Elon Musk. Lyft: The ride-hailing service said it is cutting 13% of its workforce, nearly 700 employees. Meta: Facebook’s parent company has laid off 11,000 people, about 13% of its workforce. January 2023 Amazon: The e-commerce company said it had to cut about 18,000 positions. This is just a fraction of the 1.5 million workforce worldwide. Salesforce: The company is laying off 10% of its workforce, about 8,000 employees.Coinbase: The cryptocurrency trading platform is cutting about 20% of its workforce, or about 950 jobs, in its second round of layoffs in less than a year. Microsoft: The software company said it would cut about 10,000 jobs, nearly 5% of its workforce. Google: The search engine giant became the latest in the industry to say it had to adjust, saying 12,000 workers, or about 6% of its workforce, would be laid off.

Nearly 50,000 jobs were cut in the technology sector in the last month alone.

Over the past few years, tech companies large and small have started hiring as demand for their products, software and services has increased with millions of people working remotely. Still, even with all the layoffs announced in recent weeks, most tech companies are still much bigger than they were three years ago.

Here’s a look at some of the companies that have announced layoffs so far.

August 2022

Tie up: The parent company of social media platform Snapchat has said it is laying off 20% of its staff. Snap has grown to more than 5,600 employees in recent years, and the company said at the time that even after laying off more than 1,000 people, its workforce would be larger than a year earlier.

Robin Hood: The company, whose program helped bring a new generation of investors to market, announced that it will cut its workforce by about 23%, or about 780 people. An earlier round of layoffs last year cut 9% of the workforce.

November 2022

Twitter: About half of the social media platform’s 7,500-strong staff has been laid off after it was acquired by billionaire Tesla CEO Elon Musk.

Elevator: The ride-hailing service said it is cutting 13% of its workforce, nearly 700 employees.

Meta: Facebook’s parent company has laid off 11,000 people, about 13% of its workforce.

January 2023

Amazon: The e-commerce company said it had to cut about 18,000 positions. This is just a fraction of the 1.5 million workforce worldwide.

Sales department: The company is laying off 10% of its workforce, about 8,000 employees.

Coinbase: The cryptocurrency trading platform is cutting roughly 20% of its workforce, or about 950 jobs, in its second round of layoffs in less than a year.

Microsoft: The software company said it would cut about 10,000 jobs, nearly 5% of its workforce.

Google: The search engine giant became the latest in the industry to say it had to adjust, saying 12,000 workers, or about 6% of its workforce, would be let go.

Job cuts in the tech industry are happening quickly and in large numbers

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