Tech giants continue mass layoffs; Check out the shocking figures!
By Aishwarya Nair | First Published Apr 23, 2023, 6:55 PM ISTIn the past two months, companies including Microsoft, Google, Amazon, Meta, and Twitter have let go of thousands of people.
The news of layoffs at high-profile businesses seems never-ending. Even in April 2023, the top businesses in the world continue to make layoffs. While some businesses assert that the job cuts are necessary for cost-cutting, others assert that they are part of a strategy to restructure the business's organizational structure and eliminate positions to create more effective teams. In the past two months, companies including Microsoft, Google, Amazon, Meta, and Twitter have let go of thousands of people. The second round of layoffs is approaching, according to Amazon and Meta, who broke the news days ago as part of the company's efforts to streamline operations. Considering only the 2023 data, 612 technology firms have already let 1,71,660 people go.
Meta
Over the past few months, Meta, the tech company, has experienced significant layoffs. Globally, Meta has fired 21,000 employees thus far. On April 18, it was revealed that 10,000 job layoffs were probably coming soon. In November of last year, the company let go of 11,000 workers. News recently surfaced that Meta will ultimately fire 4,000 staff. The technicians at Facebook, Instagram, Reality Labs, and WhatsApp will be the most affected by the layoffs.
In a challenging scenario, Mark Zuckerberg said that the layoffs were necessary to strengthen the company's technology capabilities and financial performance. As of November 8, 2022, the company has 87,000 employees globally.
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Amazon
The latest news from Amazon is that it will lay off 9,000 more employees in the coming weeks. Andy Jazzy, the CEO of the company, informed the staff of this in a memo. According to reports, the employees in the advertising department will be let off. There are rumours that the latest round of layoffs would affect advertising departments across North America. The company had let go of about 100 workers from its gaming segment two weeks earlier. Amazon has already made the decision to lay off 18,000 people worldwide by 2023.
Walt Disney
Other than tech firms, companies like Walt Disney are also planning to lay off staff. Thousands of people, including 15% of its entertainment sector, will be let go by the Walt Disney Company. Employees at the company's amusement parks, television studios, and films will be affected by the mass layoffs. Disney revealed plans to fire 7,000 workers from its workforce of more than 220,000 in February in an effort to save the business $5.5 billion in costs. The corporation places a high priority on the success and expansion of the streaming sector.
Other companies
612 tech firms, including Meta and Amazon, made layoffs in 2023. Tech firms including Apple, Netflix, Unacademy, Twitter, Alphabet, Accenture, Microsoft, PayPal, and many more are included on the list. Since the beginning of the year, tech companies have let go a total of 1,71,660 workers, including 89,514 workers from 271 firms in January 2023, 39,441 workers from 176 firms in February, 37,662 workers from 120 firms in March, and 5,043 workers from 45 firms so far in April.
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