edited by: Mohammad Haris
Last Update: January 27, 2023, 10:49 AM IST
The beginning of the year 2023 has been tough for the employees as big tech companies around the world are laying off employees to cut costs.
The layoffs are taking place to cut costs against the backdrop of global economic uncertainties
The beginning of the year 2023 has been tough for the employees as big tech companies around the world are laying off employees to cut costs. lay off This is happening against the backdrop of global economic uncertainties. According to Laoffs.fyi, a crowdsourced database of tech layoffs, more than 2 lakh tech jobs have been cut since the beginning of last year. Here is a list of layoffs by major companies.
Google, Its parent company Alphabet plans to cut around 12,000 jobs or 6 percent of its workforce worldwide. The layoffs will affect jobs globally and across the company, Chief Executive Officer Sundar Pichai told employees in an email on Friday that he “takes full responsibility for the decisions that got us here”.
Microsoft, The tech giant has announced that it will lay off 10,000 workers in the coming days amid concerns over a global economic slowdown – about five percent of its total workforce. The job cuts were “in response to macroeconomic conditions and changing customer preferences”.
Amazon: Amazon is laying off more than 18,000 employees as global economic uncertainty forces companies to cut costs and restructure operations.
IBM: The company has announced 3,900 layoffs as part of some asset divestments and missed its annual cash target, beating revenue expectations in the fourth quarter. Its chief financial officer James Kavanaugh has said the company is still “committed to hiring for client-facing research and development”.
Spotify: The music streaming giant has announced to lay off 6 per cent of its workforce or around 600 employees globally. Daniel Ek, CEO of the Swedish company, announced in a memo that he was very ambitious in investing ahead of their revenue growth. The company had more than 9,800 full-time employees as of the company’s last earnings report.
Dow: The materials science company is cutting about 2,000 jobs, or about 5 percent of its global workforce, as part of an effort to reach $1 billion in cost savings this year. The Midland, Michigan-based company currently employs approximately 37,800 people.
SAP: The German software company plans to cut 3,000 jobs, or 2.5 percent of its global workforce, and is exploring the sale of its remaining stake in Qualtrics, as it looks to cut costs and focus on its cloud business. Wants to SAP is the latest tech company to cut jobs after companies including Alphabet’s Google, Microsoft and Amazon announced thousands of layoffs to cut costs as they prepare for tough economic conditions.
3m, The maker of Post-It notes, industrial coatings and ceramics is cutting about 2,500 manufacturing jobs worldwide as it seeks to align itself with adjusted production volumes. The company announced last month that it would phase out per and polyfluoroalkyl material manufacturing by the end of 2025.
In November 2022, Meta, the parent of Facebook, Instagram and WhatsApp, also terminated more than 11,000 workers – about 13 per cent of its workforce. New Twitter CEO Elon Musk has also let go of 50 percent of its workforce globally to cut costs.
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