The past few months have been tough for tech employees. Thousands of IT professionals have lost their jobs in recent months. Since the beginning of 2023, Crunchbase estimates that about 91,000 workers in the tech industry have lost their jobs. Many analysts are calling 2023 the “worst year ever” for IT workers. Unprecedented layoffs have occurred at both startups and some of the largest companies. Numbers in Big Tech run into the thousands. Here are the biggest tech layoffs of the past two months.
Amazon: 18,000
Amazon, one of the largest employers in the United States, is slowly rolling out layoffs that will affect 10,000 workers by the end of 2022. The layoffs started with teams in the company’s Alexa smart home and Luna cloud gaming divisions. By January 2023, that number had swelled to 18,000 employees, spread across departments. CEO Andy Jassy announced the layoffs in an email to employees shared online, titled “CEO Andy Jassy Update on Layoffs.” Jassy said in an email that he decided to make further cuts after meeting with company leaders to discuss ways to reduce costs in an unstable economy and to prioritize “what is most important to our customers and the long-term health of our business.”
Google: 12,000
Google CEO Sundar Pichai said in an employee memo that Google will cut 12,000 jobs. The layoffs will affect teams across the company, including recruiting and corporate functions, as well as some engineering and product teams. The layoffs are global and will immediately affect U.S. employees. In an email to employees, CEO Sundar Pichai said the company will “strengthen our focus, redesign our cost base and direct our talent and capital to our highest priorities.” He said , he “takes full responsibility for the decisions that lead us here. “These are important moments to sharpen our focus, redesign our cost base, and direct our talent and capital toward our highest priorities,” Pichai wrote in an email. ”
Facebook parent dollar: 11,000
After months of hints, Facebook parent company Meta finally announced that it will lay off 11,000 employees in November 2022, accounting for about 13% of its workforce, the first mass layoffs in the company’s history. Growth and excessive desire to turn to certain terms of the “metaverse”. The company’s stock lost more than 70% of its value during the year. “Not only is online commerce returning to previous trends, but the macroeconomic downturn, increased competition and loss of ad signal caused our revenue to fall well short of my expectations,” CEO Mark Zuckerberg wrote in a blog post.
Intel: 10,000+
Chip giant Intel Corp. is cutting jobs and slowing spending on new factories to save $3 billion. The company hopes to save as much as $10 billion by 2025. According to reports, the number of layoffs may exceed 10,000.
Microsoft: 10,000
Microsoft said it would cut 10,000 jobs by the end of March, or about 5% of its workforce. This will result in a charge of $1.2 billion in the fiscal second quarter. Chief Executive Nadella said in blog posts and internal emails to employees that the company will continue to hire in “key strategic areas.”
Sales staff: 8,000
Salesforce CEO Marc Benioff formally announced the layoffs affecting 10% of the company’s workforce in a letter to employees earlier this month. As many as 8,000 employees have been affected by the layoffs. The reason for the layoffs is essentially the same as at most other tech companies: Salesforce overhired during a boom in remote work productivity in the pandemic era. As of this writing, Salesforce employs about 80,000 people, nearly double the 48,000 it had before the pandemic. “As our revenues accelerated during the pandemic, we hired too many people, causing the recession we now face, and I take responsibility for that,” Benioff wrote.
Health: 6,000
HP issued a statement saying that they will cut about 4,000 to 6,000 jobs in the next three years. The announcement came on the heels of earnings when HP’s sales fell more than 11% year-over-year. “The company expects to reduce its total global headcount by approximately 4,000-6,000 people,” the company said. According to the same filing, HP said the job cuts and additional cost-cutting measures would result in total annualized run-rate savings of at least $1.4 billion by the end of 2025. Dollar.
Seagate: 3,000
Seagate Technology, the largest maker of computer hard drives, said it was cutting about 3,000 jobs. Computer suppliers including Seagate and Intel have been hit hard by a slowdown in hardware spending. Chief Executive Dave Mosley said customers were sitting on large amounts of excess inventory, hurting orders and dragging down Seagate’s financial performance. This needs to be cut. “We have taken quick and decisive action to address current market conditions and improve long-term profitability,” he said.
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