Amazon, Meta and Twitter have led an organization of giant U. S. corporations. The U. S. government is expected to carry out giant rounds of layoffs in the first 3 months of 2023, as recession fears stemming from higher inflation and interest rate hikes have led employers to introduce restructuring plans (major layoffs in April and beyond are indexed here).
March 30 Billionaire Richard Branson’s aerospace company, Virgin Orbit, said it would lay off 675 employees, reducing its workforce to a hundred as the company reportedly ceased operations “for the foreseeable future” after the struggling company failed to secure last-minute financing.
On March 30, Roku laid off 6% of its (two hundred employees) and left the offices it no longer occupies, the San Francisco-based generation company announced Thursday in a filing with the Securities and Exchange Commission, as part of its latest restructuring. plan, after cutting another two hundred positions in November.
On March 29, Electronic Arts, the maker of video game franchises such as Battlefield, FIFA and Madden, will cut about 6 percent of its workforce, the company said in an SEC filing Wednesday, and CEO Andrew Wilson wrote in a memo that the corporate is “moving away from projects that don’t contribute to our strategy” amid “macro uncertainty. “
On March 29, Robert Kyncl, chief executive of Warner Music Group, announced that the New York-based entertainment company would cut 270 spots in a story carried by Variety, calling the relief an example of “some possible options that are hard to evolve” (Warner Music Group did not respond to a request for comment from Forbes).
March 28 Lucid Group, an electric car maker based in the San Francisco Bay Area, said in an SEC filing that it will cut 18% of its more than 7200 workers through July as part of a restructuring plan to accommodate “changes in business desires and productivity improvements. “”
24 MarchA of cuts in Bed Bath
March 22 A series of cuts at Indeed will affect 2,200 of its more than 14,600 workers across “virtually every team,” CEO Chris Hyams said in a statement, writing that the cuts come as the job market cools after a “recent post-Covid boom. “And the precautionary generation gain will likely decline in fiscal years 2023 and 2024.
On March 22, Glassdoor, a San Francisco-based employer review site, will reduce its performance by about 15 percent, affecting 140 employees, CEO Christian Sutherland-Wong said in a statement, blaming the “changing macroeconomic environment. “
Data chip maker Marvell Technologies will cut 4% of its (about 320 employees) as part of a move to position its “take advantage of our maximum promising opportunities, either now and when we emerge from the current industry downturn,” the company told Bloomberg.
On March 20, Amazon CEO Andy Jassy announced that the company, which has about 1. 5 million employees, will cut 9,000 positions primarily on its advertising, internet services, experience and user generation (PXT) and Twitch platforms, following two rounds of layoffs since January of that year. They have affected about 18,000 employees.
Marketing and e-commerce corporation Klaviyo has cut 140 of its roughly 1200 positions, TechCrunch and the Boston Globe reported, making it the newest Boston-based tech company to downsize, after HubSpot, Wayfair and Whoop.
On March 9, Lockheed Martin plans to lay off 176 workers from its Sikorsky heavy-lift helicopter department in Maryland, according to a task adaptation and retraining notice filed with the Maryland Department of Labor: Lockheed Martin had 116,000 workers last month, according to PitchBook.
On March 8, Hunter Douglas plans to lay off 361 of its roughly 23,000 employees, the company said in a state statement, as the window and curtain company closes a plant in Cumberland, Maryland, the Cumberland Times-News reported.
On March 6, Atlassian will eliminate 500 full-time employees, or about five percent of its workforce, it said Monday in a filing with the Securities and Exchange Commission. Co-CEOs Mike Cannon-Brookes and Scott Farquhar cited a “changing and challenging macroeconomic environment. “in an internal memo, and adds: “We want to spend more time rebalancing the skills we want to respond more temporarily to our business priorities. “
On March 6, SiriusXM satellite radio CEO Jennifer Witz announced in a memo to workers that the layoffs will affect about 8 percent of its roughly 6,000 workers (about 475 positions) and “nearly every department,” according to executives. to “maintain a sustainably successful business” amid today’s “dubious economic environment. “
On March 1, Citigroup’s cuts are expected to affect less than 1 percent of the company’s roughly 240,000 workers, sources familiar with the matter told Bloomberg, after the company allegedly laid off another 50 workers from the company in November (Citi did not respond to the Forbes report). request for details).
Chicago-based software consulting firm Thoughtworks will cut 4% of its roughly 12,500 international workers (five thousand workers) in a bid to “support the company’s long-term growth,” spokeswoman Linda Horiuchi told Forbes, following the company’s prediction in a first-quarter forecast that profits will fall more than five percent from the first quarter of last year.
Waymo’s March 1 cuts will affect 8 percent of its workforce, sources familiar with the matter told Reuters and The News on Wednesday, bringing the total number of workers laid off at the company this year to 209, after its parent company, Alphabet, which is also the parent company. Google company: Announced a series of mass layoffs of about 12,000 workers (Waymo did not immediately respond to a request for comment from Forbes).
On Feb. 28, cuts at General Motors will affect only “a few hundred” workers, a source familiar with the matter told Reuters, while the Detroit News reported that figure could rise to 500 of the company’s 167,000 workers (GM did not). respond to the Forbes survey on how many workers may simply be laid off. )
On Feb. 27, Twitter began laying off 200 of the social media giant’s remaining 2,000 workers in the social media platform’s latest circular of job cuts, sources familiar with the matter told The New York Times, just weeks after CEO Elon Musk vowed to “stabilize the organization” following several layoff circulars last fall that reduced more than the half the Company of approximately 7,500 people.
On Feb. 27, Cerebral showed that the brain-fitness startup would reduce its workforce by 15% (about 285 employees) in a report to Forbes, saying the layoffs were part of a reorganization plan — the company’s third layoff circular since last summer — and added one in June that affected 350 employees.
Denver-based software company Palantir Technologies will cut just under 2% of its headcount, even as the company reported a profit of $31 million in the last fiscal quarter, affecting 76 of the company’s 3838 employees, according to PitchBook (Palantir did not respond to a request from Forbes).
February 24 Ericsson’s latest layoff circular, which is expected to affect 8% of its roughly 106,000 international workers (about 8,500 positions), is part of a cost-cutting plan to save about $880 million by the end of 2023 and includes 1,400 jobs it had announced would be cut earlier this week in Sweden. where the company has its registered office.
Feb. 22 NPR Chairman and CEO John Lansing announced the layoffs, expected to be at least a hundred of its roughly 1,100 employees, in a memo to staff Wednesday afternoon amid a slowdown in ad earnings and as “the economy remains uncertain. “
On Feb. 21, McKinsey’s job cuts could be just more than four percent of the company’s roughly four thousand employees, according to PitchBook: McKinsey did not immediately respond to Forbes’ request for more details, though other people familiar with the matter told Bloomberg that the New York-based company is expected to make the layoffs in the coming weeks.
On Feb. 16, DocuSign revealed plans to cut 10 percent of its work in a Thursday filing with the Securities and Exchange Commission, affecting about 740 of its 7400 workers — the timing of job cuts at the San Francisco-based software company in less than six months. after cutting another nine percent last November.
On Feb. 15, accounting firm KPMG could cut 2% of its (about 700 employees), the Financial Times reported, bringing a memo from Carl Carande, vice president of U. S. consulting business. UU. de the firm, who said the cuts were aimed at aligning it with “current and projected market demand,” making it the first of the so-called giant accounting firms to conduct a primary series. of layoffs amid growing recession fears in recent months.
February 10 Twilio’s budget cuts, which will affect just over 1500 of the company’s nearly 9000 workers, according to Pitchbook, are part of a major realignment plan: the company’s moment in five months, following its resolution to cut another 11% of its workforce last September, with CEO Jeff Lawson saying in a message to workers on Monday: “It’s transparent that we’ve gotten too big. “
News Corp, the owner of the Wall Street Journal, the New York Post, publishing giant HarperCollins, as well as outlets in the United Kingdom and Australia, plans to shrink its five percent this year (about 1,250 employees), the Journal reported, following a 7% drop in profit to $2. 52 billion in a 12-month period ending in December.
Yahoo plans to cut more than a portion of its Yahoo For Business department through the end of the year, which will affect more than 1600 employees and add only about 1000 this week alone, according to a corporate spokesperson, who told Forbes that the cuts will “simplify and our advertising business,” which has been “unprofitable and has struggled to meet our highest standards. “
Feb. 8 Nomad Health, a New York-based eHealth workforce watchdog company, will lay off 17% of its (nearly 120 employees), and CEO Alexi Nazem tells staff in a letter received via Forbes that the move comes as the company is “facing a primary shift in the post-pandemic economy” due to peak inflation. recession fears and weak customer demand.
On Feb. 8, Microsoft-owned Internet generation control company GitHub announced it would lay off 10% of its workforce, or about 300 of its 3,000 employees, officials told Forbes, saying the move is part of a “budget realignment. “aimed at maintaining the “health of our corporate in the short term”).
February 7 In a filing with the Securities and Exchange Commission, eBay announced a 4% relief on its (500 employees), as the San Jose, California-based e-commerce company strives to reduce prices “taking into account the [global] macroeconomic situation. “
On February 7, in a message to employees, Eric Yuan, CEO of online assembly platform Zoom, revealed plans to shrink the company by about 15% as “global transitions to post-pandemic life” and amid “global economic uncertainty,” cutting around 1,300 positions, after tripling its level at the beginning of the pandemic.
On February 7, Atlanta-based cybersecurity company Secureworks announced in an SEC filing that it will cut nine percent of its staff (which would account for about 225 of its nearly 2500 employees, according to PitchBook), as it seeks to cut expenses at a time when some of the world’s economies are in an era of uncertainty.
On Feb. 6, aircraft maker Boeing told several media outlets that it plans to cut about 2,000 jobs in finance and human resources this year, though the company said it would increase its total by 10,000 workers “concentrating on engineering and manufacturing. “
On Feb. 6, Texas-based Dell Technologies, which owns PC maker Dell, could lay off about 6650 employees, posing “uncertain” market situations in its resolve to go beyond previous cost-cutting measures, while analysts noted a drop in demand. for non-public computing products, which account for the majority of Dell’s sales, after a pandemic peak.
Feb. 2 Okta CEO Todd McKinnon revealed plans to cut the tech company by 5% (about three hundred positions) in an SEC filing on Thursday, bringing up an era of overcontracting in recent years that failed to take into account the “macroeconomic truth that we are. “today.
On February 1, NetApp, a cloud data company based in San Jose, California, announced plans in an SEC filing to lay off 8% of its staff (estimated at 960 employees) through the end of the fiscal fourth quarter of 2023 “due to macroeconomic conditions. “Demanding situations and reduced finishing environment.
On Feb. 1, Boston-based online sports betting company DraftKings also announced plans to cut 3. 5% of its global workforce as part of a cost-cutting move expected for about 140 employees, the Boston Globe reported.
On Feb. 1, FedEx announced it would reduce 10% of its team of officers and administrators and “consolidate certain groups and functions,” four months after the delivery giant unveiled plans to freeze hiring and close 90 FedEx Office offices, in a move CEO Raj Subramaniam said he wants to make the company a “more efficient” and “agile” organization (FedEx employs about 547,000 people, according to PitchBook).
On Feb. 1, electric carmaker Rivian Automotive will cut 6 percent of its workforce, Chief Executive Officer R. J. said. Scaringe in an email to workers reported by Reuters, just over six months after the company laid off another five percent of its roughly 14,000 employees. (Rivian did not promptly respond to a request for more Forbes headlines. )
On Tuesday, online payments company PayPal said it would cut 7% of its global workforce (2,000 full-time positions) in a “competitive landscape” and a “challenging macroeconomic environment,” Chief Executive Officer Dan Schulman said.
On January 31, publishing giant HarperCollins announced that it would cut 5% of its U. S. sales. The publisher grapples with declining sales and an “unprecedented chain of sources and inflationary pressures”; HarperCollins is estimated to have about 4,000 painters worldwide, more than who paint in the United States, The Associated Press reported.
HubSpot, a Cambridge, Mass. -based software company, said it would reduce 7% of its workforce through the end of the first quarter of 2023 in an SEC filing, as part of a restructuring plan, and CEO Yamini Rangan told staff it’s after a “downward end” after the company “flourished” in the Covid-19 pandemic. with HubSpot facing a “faster-than-expected slowdown. “
On January 30, Philips announced it would cut 3,000 jobs worldwide by 2023 and 6,000 in total by 2025 after the Dutch electronics and medical device maker announced losses of $1700 million by 2022, while CEO Roy Jakobs added that the company would now “strengthen the protection and quality of our patients. “management”.
On Jan. 26, Hasbro announced it would cut 15 percent of its global investment this year (affecting about 1,000 full-time employees), and that the toymaker’s profits would fall 17 percent over the past year “amid a challenging holiday customer environment,” CEO Chris Gallos said in a statement.
On Jan. 26, Michigan-based chemical company Dow announced it would eliminate 2,000 jobs worldwide from a cost-cutting plan to save $1 billion.
On January 26, software company IBM announced it would reduce 1. 5 percent of its global workforce, which is expected to reach about 3900 employees, according to CFO James Kavanaugh, several media reported, while the company expects $10. 5 billion in loose cash flow in fiscal 2023.
On Jan. 26, SAP announced it would lay off 3,000 workers, or about 2. 5% of its global workforce, on its earnings call Thursday that pronounced the effects of the fourth quarter of 2022, but did not specify where the cuts would be made. The German commercial software company, based in Pennsylvania, said the layoffs were part of an effort to cut prices and more in its core cloud computing business.
Jan. 25 Groupon, in an SEC filing, said it would cut its 500 employees worldwide at its time of major cutbacks in recent months, after the e-commerce company eliminated another 500 positions last August.
On January 25, Vacasa, the Portland, Oregon-based vacation rental control company, said it would eliminate 1300 positions (17% of its staff) in an SEC filing as it works to reduce prices and “focus on being a successful business,” 3 months later. . announced that it will expand its staff.
January 243M, the maker of Post-it Notes and Scotch, said it would eliminate around 2,500 production positions worldwide in a financial report, while Chief Executive Mike Roman said the company expects “demanding macroeconomic situations to persist through 2023”.
Jan. 24 Cryptocurrency exchange Gemini plans to cut 10% of its workforce, according to an internal memo known via CNBC and The Information, with layoffs estimated at a hundred or so of its 1,000 workers — its latest circular of cuts after cutting 7%. of its workforce last July and another 10% last May.
On January 23, Spotify will lay off 6% of its workforce (about six hundred employees, based on the 9800 full-time employees it had as of September 30) and the company’s shares rose more than 5% in early trading as investors continue to largely digest the tech layoffs as positive news for earnings. while the company’s chief content officer, Dawn Ostroff, will leave the company as part of the reorganization.
On Jan. 20, Alphabet, Google’s parent company, plans to cut about 12,000 jobs worldwide, Chief Executive Sundar Pichai said, highlighting the need for “tough decisions” to “fully capture” the huge opportunities ahead.
Boston-based furniture e-commerce company Wayfair said it would cut 10 percent of its global workforce (1750 workers), adding 1200 positions at the company, in a bid to “remove levels of control and reorganize to be more agile” amid a sales reduction. The latest circular of job cuts in the company after its resolution to lay off 870 workers last August.
On Jan. 19, Capital One eliminated 1,100 tech jobs, a relative with the matter told Bloomberg.
On Jan. 19, student loan manager Nelnet said he will lay off 350 hired enrollees over the next six months, while 210 will be eliminated for “performance reasons,” telling Insider that the cuts come as President Joe Biden’s student debt cancellation program continues to stall after facing legal exigencies from conservative teams opposed to the measure.
On January 18, Microsoft’s budget cuts, which 10,000 employees (less than 5% of its workforce), come 3 months after the Washington-based company carried out a new circular of layoffs of less than 1% of its roughly 180,000 employees. with CEO Satya Nadella saying in a message to staff that some employees will be notified starting Wednesday and that layoffs will be carried out until the end. of the third fiscal quarter of September.
On Jan. 18, Amazon, one of the nation’s largest companies, outlined a plan to eliminate more than 18,000 jobs (including jobs eliminated in November) starting Jan. 18 in a message earlier this month through CEO Andy Jassy, who said corporate faces an “uncertain economy” following “fast” hiring in recent years.
Jan. 18 Teladoc Health will cut 6 percent of its services, without adding doctors, as part of a restructuring plan announced by the company in a financial report Wednesday, as the New York-based telemedicine company tries to cut operating costs amid a “challenging economic backdrop. “. ” atmosphere. “
On Jan. 13, LendingClub announced it would lay off 225 workers (about 14% of its workforce) in an SEC filing, amid a “challenging economic environment” as the San Francisco-based company attempts to “align its operations with the shrinking market. “income” after seven rounds of Federal Reserve interest rate hikes last year and fears of an imaginable recession persist.
On Jan. 13, Crypto. com CEO Kris Marszalek announced that the company, which had over 2500 employees in October, according to PitchBook, would cut 20 percent of its capital in a message to workers, as the company faces “continued economic headwinds and unpredictable industry events,” adding the collapse of Sam Bankman-Fried’s FTX cryptocurrency exchange expired last year, which “significantly damaged confidence in the industry. “
On Jan. 12, DirecTV’s cuts could affect many employees, mostly executives, who make up nearly a portion of the company’s 10,000 employees, sources told CNBC, as the company struggles with higher prices to “secure and distribute programming,” and then the company lost about 3 percent of its subscribers (400,000) in the third quarter of 2022. according to Leichtman Research Group.
On January 11, BlackRock officials allegedly told workers that the New York-based company planned to reduce its stake by 2. 5%; The company did not immediately respond to a Forbes survey for more details, but in an internal memo received through Bloomberg, CEO Larry Fink and Chairman Rob Kapito said the move comes amid “uncertainty surrounding us” that requires us to remain “ahead of the curve. “adjustments in the market”.
January 11 In a note to employees, Flexport CEOs Dave Clark and Ryan Petersen announced plans to reduce the company’s global workforce by 20% (estimated at 662 of its more than 3300 employees, according to PitchBook data), saying that the start-up chain of origin is “not immune” to a global “macroeconomic downturn. “
On Jan. 10, Coinbase, one of the largest cryptocurrency exchanges in the United States, announced plans to lay off 25% of its workforce (950 employees) in a corporate blog post to “weather cryptocurrency market downturns,” after laying off another 18% from its last June.
Goldman Sachs could lay off as many as 3200 workers in one of the biggest rounds of job cuts to date in 2023 as the investment banking giant prepares for an imaginable recession, several media reported, mentioning other people familiar with the job cuts.
AI startup Scale AI has announced plans to cut a fifth of its staff, CEO Alexandr Wang said in a blog post, saying the company has grown “rapidly” in recent years but faces a macro environment that has “changed in recent years. “. ” Barracks.
Online clothing company Stitch Fix will lay off 20 percent of its employees and close a distribution center in Salt Lake City, founder and interim CEO Katrina Lake said in an internal memo, after laying off another 15 percent of her company last June.
On Jan. 5, crypto lender Genesis Trading reportedly laid off 30% of its Array according to the Wall Street Journal, which spoke of anonymous resources: the company’s circular timing of cuts since August, which reduced it to 145.
On Jan. 4, San Francisco-based software giant Salesforce will cut its headcount by 10 percent, or 7900 employees, CEO Marc Benioff said in an internal letter, amid a “challenging” economic climate and as consumers take a “more measured approach to their purchases. “decisions. “”
On January 4, online video platform Vimeo announced its moment of circular cuts over the past six months, affecting 11% of its (about 150 of its 1,400 employees, according to PitchBook data), and CEO Anjali Sud attributed the company’s resolution to a “deterioration of economic conditions.
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More than 120 major U. S. corporations, including tech startups, major banks, brands and online platforms, carried out the first rounds of layoffs last year, leading to the layoffs of nearly 125,000 workers, according to Forbes’ layoff tracking. the corporate Meta, which laid off about 11,000 workers in November. The corporate with the maximum rounds of cuts Platoon, which suffered 4 separate rounds of layoffs, adding one that affected more than 2,800 workers.
Another 125,000 people laid off after deep cuts as recession fears mount, according to Forbes Tracker
Goldman Sachs reportedly cut more than 3,000 jobs as primary layoffs continue in 2023 (Forbes)
Another 46,000 people laid off in November as job cuts mount (Forbes)