This year has seen a lot of layoffs from tech giants like Microsoft, Netflix, Tesla and Twitter. Unfortunately, the list of companies that decided to part ways with some of their staff did not end there.
The Tech.co has been tracking cutbacks in the tech industry since the beginning of the year.
Here are some of the companies:
HP – Around 4,000 – 6,000 jobs cut
HP announces that it plans to cut between 4,000 to 6,000 roles over the next three years. In a statement, the company stated that its “Future Ready Transformation Plan, estimates annualized gross run rate cost savings of at least $1.4 billion by the end of fiscal 2025, and restructuring and other charges of approximately $1.0 billion.”
Cisco – Around 4,000 jobs cut
Despite announcing a 6% increase in revenue in its first quarter earning report compared to last year, Cisco announced that it was cutting 4,000 of its 83,000 workforce.
The company pointed to a new number of roles that it has opened in new areas, and stated that it will work hard to match employees affected by the cuts to this new positions.
Amazon – Around 10,000 jobs cut
Rumors had been circulating about huge cuts at Amazon for a few weeks, but today, it was official. News is slowly trickling out as those affected are posting to social media, but Amazon has started making redundancies that are expected to reach around 10,000. The layoffs represent 3% of the total workforce, and so far have confirmed to have affected AI, HR and and retail positions.
RingCentral – Around 400 jobs cut
RingCentral is trimming 10% of its workforce, amounting to around 400 people. The company stated that making these cuts would allow it to be “more agile and better align our course with our strategic priorities in the current macro environment.”
Meta – Around 11,000 jobs cut
Meta has confirmed the long running rumors that it was to make huge layoffs. In a statement, Mark Zuckerberg confirmed that the company was cutting 10% of the company workforce, amounting to 11,000 roles. Those impacted will receive 16 weeks severance, plus two weeks pay for each year they have been with the company. They’ll also receive additional health and career benefits.
Zendesk – Around 350 jobs cut
Zendesk announced that it would be letting 5% of its staff go, citing cost-reduction initiatives. The job losses include those based at the company’s San Francisco location.
Twitter – Around 3,700 jobs cut
It took only a week for Elon Musk to fire half of Twitter’s workforce, after taking over the company for $44 billion. It perhaps isn’t too surprising – there had been plenty of rumors of layoffs in the weeks running up to the takeover, and Musk isn’t exactly a man known for his compassion. Twitter staff discovered their fate by email on Friday. Those that remain will have the privilege of remote working taken away and be expected to return to the office.
Snyk – Around 200 jobs cut
Cybersecurity firm Snyk lets go 14% of its workforce, blaming ‘significant market shifts’, leading to the company having to ‘restructure its global workforce’. In addition CEO of Snyk, Peter McKay also stated that it would be reducing spending in other areas, including subscription services and business travel.
Microsoft – Around 1,000 jobs cut
A spate of layoffs at Microsoft has led to around 1,000 employees losing their jobs. It’s one of the biggest round of layoffs we’ve seen this year, but still a relatively small percentage of Microsoft’s 220,000+ workforce. Those affected by the cuts include Xbox, Edge and Devices teams. Microsoft has made at least two other rounds of layoffs this year, with the biggest, back in July, affecting 1,800 employees.
Spotify – Around 40 jobs cut
Spotify closes down eleven of its exclusive podcasts, resulting in the termination of 5% of the company’s employees.
Apple – around 100 jobs cut
Apple cuts 100 contractor roles across several regions, as reported by Bloomberg. The contractors worked in the recruitment arm of the company. In June CEO Tim Cook stated that the company would be ‘investing through the downturn’, but that it would be ‘more deliberate in doing so in recognition of the realities of the environment.’
HBO Max – around 70 jobs cut
Reports that streaming service HBO Max is cutting 70 roles, around 14 percent of its workforce. The streaming landscape is more competitive than ever in 2022, with Netflix cutting 300 jobs in June amidst declining subscriber numbers.
TikTok – around 100 jobs cut
Popular social media platform TikTok has been no stranger to headlines this year, with national security concerns coming to the forefront once again. However, in July, it was job losses that saw it in the public eye, with around 100 TikTok employees getting cut.
Tesla – around 229 jobs cut
Elon Musk’s Tesla firm made 229 redundancies in June, which was to be expected, considering he had told Bloomberg just a few weeks prior that he would be cutting staff by up to 10%.
Netflix – 450 jobs cut
Netflix saw its subscriber base start to dip for the first time in 2022, as fierce competition from the likes of Disney+, and a much-publicized crackdown on password sharing caught up with the company.
Shopify – 1,000 jobs cut
Stripe – 1,100 jobs cut
Coinbase – 1,100 jobs cut
