Thousands of employees have been laid off by Microsoft, Google, Amazon, Meta, and Twitter over the past two months.
The news of redundancies at prominent companies seems endless. Even in April 2023, the world’s leading companies continue to lay off employees. While some businesses claim that the layoffs are necessary for cost-cutting, others claim that they are part of a strategy to restructure the organization’s structure and eradicate positions in order to create more effective teams. Thousands of employees have been laid off by Microsoft, Google, Amazon, Meta, and Twitter over the past two months. According to Amazon and Meta, who revealed the news days ago as part of the company’s efforts to streamline operations, the second round of layoffs is imminent. Considering only the data for 2023, 612 technology companies have already laid off 1,71,660 employees.
Meta
Over the past few months, significant reductions have occurred at the technology company Meta. Globally, Meta has terminated 21,000 workers to date. On April 18 it was disclosed that 10,000 redundancies were likely imminent. In November of the previous year, the company laid off 11,000 employees. Recent reports indicate that Meta will ultimately lay off 4,000 employees. Facebook, Instagram, Reality Labs, and WhatsApp technicians will be hardest hit by the reductions.
Mark Zuckerberg stated that the redundancies were necessary to strengthen the company’s technological capabilities and financial performance in a challenging scenario. Globally, the company has 87,000 employees as of November 8, 2022.
Amazon
In the coming weeks, Amazon will lay off 9,000 more employees, according to recent reports. Andy Jazzy, the CEO of the company, sent a memo to the staff informing them of this. According to reports, the advertising department’s employees will be laid off. According to speculations, the latest round of layoffs will affect advertising departments throughout North America. Two weeks prior, the company had laid off approximately 100 employees from its gaming division. Amazon has already decided to cast off 18,000 employees globally by 2023.
Walt Disney
Walt Disney, like many other enterprises, is planning to lay off employees. The Walt Disney Company will lay off thousands of individuals, including 15% of its entertainment sector. The mass layoffs will affect employees at the company’s amusement sites, television studios, and film divisions. In February, Disney announced intentions to lay off 7,000 of its more than 220,000 employees in an effort to save $5.5 billion in expenses. The corporation places a significant emphasis on the success and growth of the streaming industry.
Other businesses
In 2023, 612 technology companies, including Meta and Amazon, conducted redundancies. On the list are numerous technology companies, including Apple, Netflix, Unacademy, Twitter, Alphabet, Accenture, Microsoft, and PayPal. Since the beginning of the year, tech companies have laid off a total of 1,71,660 employees, including 89,514 employees from 271 firms in January 2023, 39,441 employees from 176 firms in February, 37,662 employees from 120 firms in March, and 5,043 employees from 45 firms as of the beginning of April.