The computing devices maker said it expected to cut up to 6,000 jobs by the end of fiscal 2025. The effort will begin in the second quarter of the fiscal year 2023 and cost the company $600 million. The networking and collaboration solutions company said it will undertake restructuring which could impact roughly 5% of its workforce. The software company said it would lay off about 10% of its employees and close some offices as a part of its restructuring plan, citing a challenging economy. The ride-hailing firm said it would lay off 13% of its workforce, or about 683 employees after it already cut 60 jobs earlier this year and froze hiring in September. The layoffs come after Twitter terminated about 3,700 people, representing about half of the total staff, in November, soon after Elon Musk took over the firm. The social media company has laid off at least 200 employees, or about 10% of its workforce, the New York Times reported.
The chipmaker said it would reduce costs by $3 billion in 2023. The Facebook parent said it would cut 13% of its workforce, or more than 11,000 employees, as it grapples with a weak advertising market and mounting costs.ĬEO Pat Gelsinger told Reuters “people actions” would be part of a cost-reduction plan. The e-commerce giant said company-wide layoffs would impact over 18,000 employees. The company laid off under 1,000 employees across several divisions in October, Axios reported, citing a source. tech giant said it would cut 10,000 jobs by the end of the third quarter of fiscal 2023. Swiss regulator investigates 12 banks in Lebanese central banker corruption case Music streaming service Spotify is cutting 6% of its workforce or roughly 600 roles.Īlphabet Inc is eliminating 12,000 jobs, its chief executive said in a staff memo. The software and consulting firm said it will lay off 3,900 employees. Here are some of the job cuts by major American companies announced in recent weeks. fyi, and more layoffs are expected as growth in the world’s biggest economies slows. Tech companies shed more than 150,000 workers in 2022 amid a rapidly fading pandemic-led demand boom, according to tracking site Layoffs.
Rapid interest rate hikes and weak consumer demand have forced firms such as Amazon, Walt Disney, Facebook-owner Meta and American banks to trim their workforce. (Reuters) - Big Tech firms and Wall Street titans are leading a string of layoffs across corporate America as companies look to rein in costs to ride out a global economic downturn.
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