Layoffs 2023: Amazon, Meta Among Companies That Are Cutting Jobs
Organizations globally, including big tech giants have laid off people due to a slew of reasons.
A global recession is likely in 2023, but pressures on food, energy and inflation may be peaking, the World Economic Forum (WEF) said earlier this year.
In its Chief Economists Outlook Survey, the WEF said globally businesses are expected to cut costs significantly in response to economic headwinds.
Organizations globally especially IT companies, including big tech giants have laid off people due to a slew of reasons.
In January this year, PTI quoting The Washington Post reported that nearly 200,000 IT workers have been laid off since November last year, including some record numbers in companies like Google, Microsoft, Facebook and Amazon. The numbers have gone up since then. Let's take a look at the companies that has laid off employees in recent times.
Amazon: Since last year, Amazon has eliminated more than 20,000 jobs since 2022. In March 2023, Amazon CEO Andy Jassy announced in a memo to staff that the company will cut another 9,000 jobs in the coming weeks.
Morgan Stanley: As per several international media reports, investment bank giant Morgan Stanley is considering cutting 7% of its Asia-Pacific investment banking workforce.Morgan Stanley has planned to reduce 3,000 jobs globally by end of this year.
Shopify: Earlier this month, Shopify announced it’s cutting 20% of its workforce. In 2022, Shopify laid off around 1,000 employees or almost 10 per cent of the workforce, according to a CNBC report.
Ford: As per a Bloomberg report, Ford Motor Co. plans to cut jobs in China, potentially by more than 1,300. Earlier this year, Ford said that it would eliminate 3,800 jobs across Europe due to rising costs amid the transition to EVs.
Twitter: Ever since Elon Musk took control of Twitter, the company has witnessed a drastic fall in the number of employees. As per reports, the social media company currently has only 1500 employees as compared to 7500+ before Musk took over.
Meta: So far, the Mark Zuckerberg owned company has eliminated its workforce by around 25,000 employees over three rounds of layoffs and according to reports, it is planning to lay off more employees.
Apart from these, Google, Microsoft, Qualcomm, Volvo Cars, Cognizant, LinkedIn, Vodafone, and JioMart are a few other leading companies have laid off employees.