Tech-led layoffs continue in the US
As the wave of layoffs led by the US tech sector continues, news of layoffs continues to come from many companies, including Amazon, Meta, Morgan Stanley, Boeing and Ford.
While uncertainties about the country’s economic prospects continue, rising interest rates in the face of high inflation increase business costs.
Faced with global economic uncertainties, companies must take steps to reduce their costs and curb job buying.
It is seen that the wave of layoffs that began in the technology sector has spread to other sectors such as finance, media and automotive. Layoffs continue to come from big companies like Amazon, Meta, Morgan Stanley, Boeing and Ford.
According to data from Layoffs.fyi, which tracks layoffs in the technology sector, global layoffs exceed 200,000 this year in this sector alone.
TECHNOLOGICAL INDUSTRY
Alphabet, the parent company of Google, announced that it will lay off 12,000 employees in January. Alphabet CEO Sundar Pichai stated that they have experienced a period of spectacular growth in the last 2 years, but the economic reality they face today is different.
Verily Life Sciences, the company’s healthcare unit, also announced in early January that it would lay off about 200 people, 15 percent of its employees.
US e-commerce giant Amazon announced it decided to suspend hiring in November last year due to economic prospects and announced it will lay off 18,000 of its employees in January. The company announced in March that it will lay off an additional 9,000 employees.
Amazon-owned supermarket chain Whole Foods said in April that it plans to lay off several hundred corporate employees.
US-based computer maker Dell announced in February that it would lay off approximately 6,600 people, or 5 percent of its workforce.
File sharing and storage network Dropbox said it will lay off 500 of its employees, 16 percent of its employees, in April amid slowing growth and industry-wide pressure on artificial intelligence.
Grubhub also announced a layoff plan that will affect 400 of its 2,800 employees.
Insurance software company Haven Technologies said it will lay off 280 of its employees in a major round of layoffs that affected nearly 70 percent of the company’s workforce.
The American technology company IBM announced that it will reduce the number of employees by 1.4 percent by laying off some 3,500 people in January, while Microsoft announced that in January the company made 10,000 layoffs that will affect around 5 percent of the global workforce.
Software company Oracle has laid off hundreds of employees, canceled job offers and reduced open positions in its healthcare division.
The American cloud-based software company, Salesforce, announced that it decided to reduce its workforce by 10 percent. While that rate corresponds to approximately 8,000 people, it was noted that the layoffs are expected to reduce the company’s costs by between $1.4 and $2.1 billion.
Software company Splunk said it had laid off 325 employees, including 4 percent of its staff, while online video conferencing app Zoom said 15 percent of its employees would be laid off.
MEDIA SECTOR
Digital media company BuzzFeed said it laid off 12 percent of its employees in December last year, while in April it laid off 180 people, about 15 percent of its staff. The company also stated that it is making plans to terminate its news unit, BuzzFeed News.
Walt Disney, one of the largest companies in the US entertainment industry, announced its plan to lay off 7,000 employees and eliminate $5.5 billion in costs.
US video game company Electronic Arts said it laid off about 6 percent of its workforce in March.
Meta, which owns Facebook, Instagram and WhatsApp, announced it will lay off more than 11,000 employees in November last year. Declaring 2023 the “year of productivity,” Meta announced in April that it will lay off 10,000 more of its employees in the second wave of mass layoffs.
While News Corp, the parent company of The Wall Street Journal, announced in February that it was cutting 1,250 positions, corresponding to 5 percent of its employees, the social media platform Reddit decided to lay off around 5 percent of its employees. .
Unity Software, which makes tools for creating computer games and has more than 8,000 employees, announced it will lay off 284 people in January.
The video-sharing platform Vimeo has announced that it will lay off 11 percent of its staff.
Warner Music has announced that it plans to cut 270 jobs, about 4 percent of its global workforce.
US Internet services company Yahoo also reported that more than 20 percent of its employees will be laid off by the end of the year.
FINANCIAL SERVICES INDUSTRY
Accenture, a professional services firm specializing in information technology consulting and services for Irish and US companies, announced in March that it will lay off approximately 19,000 jobs. He specified that this corresponds to 2.5 percent of the company’s workforce.
BlackRock, one of the world’s leading wealth management companies, announced in January that 500 employees would be laid off, corresponding to about 3 percent of its total workforce.
It has been reported that BNY Mellon (Bank of New York Mellon), which operates in the field of international banking and financial services, plans to lay off approximately 1,500 people in January, which corresponds to around 3 percent of the workforce. of the company
The US arm of audit and consulting services firm Ernst & Young (EY) also announced that it will lay off 3,000 jobs in April, equivalent to about 5 percent of its workforce.
Deloitte, one of the world’s largest international companies providing accounting, auditing, tax and management consulting services, announced that it will lay off 1,200 employees in the US.
Goldman Sachs, one of the largest banks in the United States, closed for the third time in less than a year.
The bank, which began laying off staff in September last year, announced that about 3,200 people will be laid off in January, corresponding to about 6 percent of the workforce. The bank said it plans to lay off up to 250 people in May.
Morgan Stanley, one of the country’s other big banks, said it plans to lay off about 3,000 jobs in the second quarter of this year.
JPMorgan Chase is reported to lay off about 500 people in May.
Global consultancy McKinsey said it plans to cut 2,000 jobs in February.
PayPal, the online payment system, announced that it will lay off 2,000 employees in January, equivalent to 7 percent of its workforce.
CRYPTO SECTOR
Cryptocurrency exchange Coinbase announced in January that it will lay off around 950 jobs, which is equivalent to around 20 percent of its workforce.
Crypto.com also announced that it will reduce its global workforce by 20 percent in January, marking its second layoff in 6 months.
Genesis, a financial services company focused on digital assets, laid off 30 percent of its staff in January and subsequently filed for bankruptcy.
AUTOMOBILE INDUSTRY AND MANUFACTURER
While the US aircraft manufacturer Boeing announced that it plans to lay off around 2,000 people in February, the chemical company Dow announced that it has decided to lay off 2,000 employees worldwide to cut costs this year.
Ford announced in February that it plans to cut 3,800 jobs in Europe over the next three years.
Electric vehicle maker Lucid said it plans to lay off about 1,300 employees in March.
Another US-based electric car maker, Rivian, has publicly announced that it plans to lay off 6 percent of its workforce.
3M, which operates in the fields of industry, worker safety, health and consumer goods, announced in April that it will lay off approximately 6,000 people worldwide in line with its cost reduction and improvement goals. of the cash flow. (AA)