The wave of layoffs swept not only start-ups and mid-sized companies, but also large technology companies such as Amazon, Microsoft, and Google’s parent Alphabet, among others.
Meanwhile, 219 tech companies will lay off 68,149 workers in 2023, according to tracking website Layoffs.fyi.
SAP and IBM are among the companies that have joined the recent layoffs to deal with the effects of the global recession.
Here is a list of major companies that have announced layoffs:
IBM Corp – The software and consulting company said it will lay off 3,900 jobs. The company also forecast annual revenue growth among individuals at steady rates, down from the 12% it reported last year, as demand led by the pandemic of digital business has made customers spend more cautiously amid fears of a recession.
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Spotify – Music streaming service Spotify is cutting 6% of its workforce, or about 600 positions. CEO Daniel Ek announced the layoffs as part of an organizational restructuring aimed at increasing efficiency, cutting costs, and speeding up decision-making. Spotify laid off 38 employees at its Gimlet Media and Parcast podcast studios in October.Letters – Google parent company is cutting 12,000 jobs or 6% of its global workforce, CEO Sundar Pichai told employees in an email. He later stated that the job cuts were made in order to act decisively as the company’s growth slowed.
Microsoft – The US tech giant said it will cut 10,000 jobs by the end of the third quarter of fiscal 2023. The layoffs will result in a $1.2 billion loss in the second quarter of fiscal 2023, representing a 12-cent disruption to earnings. , Microsoft said.
Amazon – The e-commerce giant said the layoffs will affect more than 18,000 employees. Amazon CEO Andy Jassy, in an email to employees, cited “uncertain economic conditions” and “urgent hiring” as reasons for the slowdown.
meta- Parent Facebook cut 13% of its workforce, or more than 11,000 workers amid a weak advertising market and rising costs. In 2022, the Meta recorded its first quarterly decline in history, followed by another major decline in the fall.
Intel – The company plans to cut costs by $3 billion in 2023. Intel generated $7.7 billion in operating income in the fourth quarter and paid $1.5 billion in dividends. CEO Pat Gelsinger told Reuters that “human resources” will be part of the cost-cutting plan.
Twitter – The micro-blogging platform aggressively cut staff members for Elon Musk’s $44 billion takeover. The company laid off about 3,700 workers.
Lyft – The company said it would lay off 13% of its workforce, or about 683 workers, after already cutting 60 jobs earlier this year and suspending operations in September.
Salesforce – The software company said it would lay off about 10% of its workforce and close some offices as part of its restructuring plan, citing a tough economy.
Line – The digital payments company is reducing its headcount by about 14% and will have about 7,000 layoffs, according to an email to employees from the company’s founders Patrick and John Collison.
DoorDash – The food delivery company said it is reducing the company’s workforce by about 1,250 employees to cut costs. As of December 31, 2021, the company had more than 8,600 employees worldwide.
SAP – SAP plans to cut 3,000 jobs, or 2.5% of its global workforce. The company is also looking to sell its remaining assets to Qualtrics, as the German software company looks to cut costs and focus on its cloud business.
Vimeo – Vimeo will cut 11% of its global workforce. According to its annual operating records, Vimeo hired about 1,200 jobs as of December 2021. Vimeo hired about 1,200 jobs as of December 2021, according to its annual filing. In an email to employees, Vimeo CEO Anjali Sud cited an “uncertain financial environment” for the layoffs.
Cisco – Cisco Systems Inc’s restructuring plan has affected about 5% of its workforce or 673 employees. The company says it will pay $600 million in layoffs, layoffs, and more.
Coinbase – Coinbase Global said it will cut about 950 employees as part of a restructuring plan, in the third round of cryptocurrency layoffs since last year. Coinbase in November cut more than 60 jobs in its recruiting and agency teams, after cutting 1,100 jobs, or 18% of its workforce, in June.
HP – HP Inc has said it expects to cut 6,000 jobs by the end of 2025, or about 12% of its global workforce, at a time when sales of computers and laptops are falling as consumers tighten budgets.
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Dealshare – Ecommerce company Dealshare has laid off about 100 employees, or more than 6% of its 1,500-strong workforce. Confirming this development, the founder of Dealshare Sourjyendu Medda said that this decision is in line with his business plan for the next financial year and focus on profitability.
GoMechanic – The auto startup has announced it will lay off 70% of its workforce even as SoftBank and Khazanah pulled out of a financing partnership with startup Sequoia. One of the founders, Amit Bhasin, admitted that he had suffered a financial meltdown, laid off 70% of his staff and launched an investigation into the company.
MohallaTech – MohallaTech, the parent company of ShareChat and short video app Moj, has laid off nearly 20% of its workforce or more than 500 employees in a new job.
Swiggy – Swiggy will lay off 380 employees, CEO Sriharsha Majety told internal employees no. Majety said the company’s food delivery business is growing more slowly than expected. He said that the company had been hiring him for the past two years because of a “blameless crime” on his part.
Dunzo – Reliance Retail-backed Dunzo has laid off about 3% of its workforce in the past week and the fast-moving retail platform is cutting costs elsewhere.
Hour – Ola will cut about 130-200 jobs in a new round of layoffs at the SoftBank-backed mobility company. Losses have occurred in ride-hailing businesses, electric vehicles and fintech. In September, the company terminated the layoff of about 200 engineers.
Non-cash – Online payment service provider Cashfree has laid off nearly 100 employees as it looks to cut costs and burn cash. The Bengaluru-based fintech startup, backed by YCombinator and Apis Partners, is hiring for sales and marketing staff earlier this week.
Byju – India’s most important start-up Byju’s said it will cut – or “downsize” – about 5% of its 50,000 employees across departments such as sales, content, media and technology in a phased manner. Earlier in 2022, the company fired at least 600 people in companies such as Toppr and WhiteHat Jr.
Vedantu – Vedantu has laid off another 385 workers in its fourth round of layoffs this year, as it is forced to cut costs and shift to profitable Indian edtech businesses. The company cut 100 full-time employees from its sales force in July and another 624 full-time and contract workers across two divisions in May.
at school – Edtech startup Unacademy has cut up to 350 jobs amid a push to cut costs and increase profitability, in yet another round of layoffs. The edtech company has laid off nearly 1,000 full-time employees.
FrontRow – FrontRow, which focuses on online education, has laid off 130 employees (about 75% of its workforce), in marketing, sales, engineering, and sales, as the online education startup looks at pricing. FrontRow laid off about 145 full-time and contract workers in May of this year.