The past few months have been tough for the tech industry. Thousands of IT professionals have lost their jobs in recent months. By 2023, Crunchbase estimates that nearly 91,000 workers in the tech industry will be out of a job. Many analysts say 2023 is the ‘worst year’ for IT workers. Unprecedented job cuts have taken place at startups and other large companies. Big Tech numbers run into the thousands. Here are the biggest tech job cuts in the last two months.
Amazon: 18,000
Amazon, one of the largest employers in the US, began to gradually roll out layoffs that affect 10,000 employees by the end of 2022. These job cuts began with the teams that work on the company’s Alexa smart home and cloud gaming divisions of Luna. By January 2023, this number has increased to 18,000 employees spread across different sectors. CEO Andy Jassy announced the layoffs in an email to employees that was shared online, “Update from CEO Andy Jassy on layoffs.” In the email, Jassy said he decided to make the cuts after meeting with leaders at the company to discuss ways to reduce costs and prioritize, “what matters most to our customers and the long-term health of our businesses.”
Google: 12,000
Google is cutting 12,000 jobs, CEO Sundar Pichai said in a memo to employees. The job losses will affect teams across the company including recruiting and business operations, as well as other engineering and product teams. The layoffs have taken place around the world and will affect US workers immediately. In an email to employees, CEO Sundar Photosi said the company will “expand our focus, realign our value, and focus our talent and resources on what matters most.” He said he “takes full responsibility for the decisions that have gotten us here.” “These are important times for us to refocus our attention, restructure our values, and direct our talent and resources to what matters most,” Photosi said in an email.
Facebook Parent Meta: 11,000
After several months of speculation, Facebook-parent Meta finally announced that it will lay off 11,000 employees, or about 13% of its workforce, in the history of the company in November 2022. growth and what some call enthusiastically “metaverse”. The company’s stock lost 70% of its value in a year. “Not only is online marketing back in the past, but the recession, increased competition, and the loss of marketing information have caused our revenue to be much lower than I expected,” CEO Mark Zuckerberg wrote in a post.
Intel: 10,000-plus
Chip giant Intel Corp is cutting jobs and cutting spending on new plants in an effort to save $3 billion. The company hopes to save $10 billion by 2025. Reports suggest that the job cuts could exceed 10,000.
Microsoft: 10,000
Microsoft Corp said it would cut 10,000 jobs by the end of March this year, or about 5% of its workforce. This will result in a $1.2 billion investment in the second quarter. CEO Nadella said in a blog post and an internal email to employees that the company will continue to hire “in the most important areas.”
Sellers: 8,000
Salesforce CEO Marc Benioff announced the revelations that affected 10% of the company’s workforce in a letter to employees earlier this month. About 8,000 workers will be affected by the job cuts. The reason for the cut is the same as that of many other tech companies: Salesforce overstaffed in the midst of the remote work epidemic. At the time of writing, Salesforce had about 80,000 employees, nearly double the 48,000 employees it had before the pandemic. “As our budget has increased due to this pandemic, we’ve hired more and more people who are creating the financial crisis we’re facing, and I’m doing that,” Benioff said.
HP: 6,000
HP has announced that it will cut 4,000 to 6,000 jobs over the next three years. The announcement came after earnings when HP’s sales fell more than 11% year-over-year. “The company expects to reduce its global workforce by approximately 4,000-6,000 employees,” the company said. According to the same document, HP says that layoffs and additional cost reductions will result in net savings of at least $1.4 billion by the end of 2025.
Seagate: 3,000
The world’s largest manufacturer of computer hard drives Seagate Technology said it is cutting about 3,000 jobs. Computer vendors, including Seagate and Intel, have been hit hard by the decline in hardware costs. Customers are sitting on a pile of extras, damaging regulations and evaluating Seagate’s financial performance, CEO Dave Mosley said. This led to his amputation. “We have acted quickly and decisively to respond to market trends and increase long-term profitability,” he said.
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