Here is a list of the growing shit storm. These are high paying jobs. Remember the Wall Street trickle trick. Announce layoffs in dribs and drabs…… This is the worst i have seen since the 2008 wipeout. It reminds me of the tech wreck! And its just the start!
Alphabet/Google
Job losses: Around 12,000 staff
Google’s parent company, Alphabet, announces huge layoffs, letting 12,000 staff go. According to Reuters, the cuts will affect recruiting, engineering and product teams. In an email to staff, CEO Sundar Pichai stated “I am confident about the huge opportunity in front of us thanks to the strength of our mission, the value of our products and services, and our early investments in AI.”
Microsoft
Job losses: Around 10,000 staff
After persistent rumors, Microsoft announced 10,000 job losses within the company. In an email to staff, CEO Satya Nadella stated that less than 5% of the company would be affected, and that hiring would still continue in key strategic areas. The company blames the job cuts on “macroeconomic conditions and changing customer priorities.”
SmartNews
Job losses: Around 120 staff
News aggregator service SmartNews confirms that it is slashing around 120 positions from the company, affecting roles in US and China. SmartNews currently employees around 900 staff, meaning a hefty 13% reduction in headcount. Speaking to TechCrunch, the company blamed ‘economic conditions’ for the move.
Goldman Sachs
Job losses: Around 3,200 staff
Huge layoffs at Goldman Sachs, with staff in major cities such as New York, London and Hong Kong reportedly being given 30 minutes to collect their things and leave. It represents a huge 6.5% of the total workforce for the company, and although the Zoom call that led to the mass firings was shocking for those affected, it hasn’t come out of the blue. Last month, CEO David Solomon warned that in an internal memo that cuts were on the horizon due to “tightening monetary conditions.”
Alphabet
Job losses: Around 200 staff
Verily, a healthcare services unit of Alphabet, announces that it is cutting 200 roles at the organisation, around 15% of positions with the company. In a statement on the company’s blog, CEO Stephen Verily stated “To enable greater focus on our updated portfolio, we are discontinuing the development of Verily Value Suite and some early-stage products, including our work in remote patient monitoring for heart failure and microneedles for drug delivery.”
Meta
Job losses: At least 20 potential new staff
We reported previously on Meta removing job offers before candidates could start their new roles, and it appears the company has done it again. Originally reported by TechCrunch, Meta confirmed that it had had to withdraw some offers to new employees. Exact numbers aren’t known, although one source, engineer Gergely Orosz, claims to have heard of 20 people affected “so far.”
Coinbase
Job losses: Around 950 staff
Crypto firm Coinbase announces that it is closing 950 roles in a blog post, equalling 20% of its entire workforce. In a statement, CEO Brian Armstrong said that the cuts were necessary to ensure that Coinbase was able to succeed in 2023. He went on to say “While it is always painful to part ways with our fellow colleagues, there was no way to reduce our expenses significantly enough, without considering changes to headcount.”
Job losses: Around 10+ staff
Reports that Twitter has continued its huge layoffs into the new year, with around a dozen cuts being made to its Dublin and Singapore offices. Speaking to Bloomberg, Ella Irwin, Twitter’s Head of Trust and Safety, said “It made more sense to consolidate teams under one leader (instead of two) for example.”
Amazon
Job losses: Around 18,000 staff
Amazon has blamed a staff leak on having to announce huge redundancies earlier than expected, with 18,000 at the company expected to lose their jobs. Amazon has yet to announce which areas these cuts will affect. It marks another in a long line of job losses at the company, with 10,000 roles being made redundant less than two months ago.
Salesforce
Job losses: Around 8,000 staff
Salesforce kicked off the year with redundancies for 10% of its workforce. The company stated that it had hired too rapidly, and that these job losses were an attempt to correct this. In addition, the company will also look to close some of its physical offices.
TuSimple
Job losses: Around 350 staff
Self-driving truck company TuSimple announces layoffs of 25% of its workforce, equating to around 350 staff. In a statement from the company, CEO Cheng Lu stated “While I deeply regret the impact this has on those affected, I believe it is a necessary step as TuSimple continues down our path to commercialization.”
Adobe
Job losses: Around 100 staff
Adobe cuts around 100 roles, mainly focused on sales . In a statement, the company said that it was not looking to make company wide layoffs, and that it was still hiring for critical roles.
Lyst
Job losses: Around 50 staff
UK-based fashion e-commerce platform Lyst is reported slashing 25% of its workforce, amounting to around 25% of its staff, as it looks to make savings, as first reported by TechCrunch.
HP
Job losses: Around 4,000 – 6,000 staff
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
Job losses: Around 4,000 staff
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.
Roku
Job losses: Around 200 staff
Roku announces plans to cut around 5% of its workforce. In a statement, Roku blames the decision on ‘economic conditions’ in its industry.
Amazon
Job losses: Around 10,000 staff
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
Job losses: Around 400 staff
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
Job losses: Around 11,000 staff
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.
Salesforce
Job losses: 100s of staff
Salesforce has cut 100s of roles at the company, although the actual numbers are unknown, with the company stating that it is fewer than one thousand. In an official statement, the company said “Our sales performance process drives accountability. Unfortunately, that can lead to some leaving the business, and we support them through their transition.”
Zendesk
Job losses: Around 350 staff
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.
November 4th
Job losses: Around 3,700 staff
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.
Opendoor
Job losses: Around 550 staff
Huge losses announced by the real estate tech company as it cuts around 18% of its total workforce. It follows competitor Better.com, which made several big layoffs this year alone. In a statement, Opendoor CEO Eric Wu blamed “one of the most challenging real estate markets in 40 years.”
October 26th
Zillow
Job losses: Around 300 staff
Seattle-based real estate firm Zillow has laid off 300 employees, with layoffs affecting those in home and loans, and closing services. In a statement, the company said that the cuts were part of its ‘normal business process’. The layoffs leave the company with around 5,000 employees in total.
October 24th
Snyk
Job losses: Around 200 staff
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.
Loom
Job losses: Around 23 staff
San Francisco video messaging start up Loom announces that it is cutting 23 employees, representing around 10% of the company’s staff. Sales staff are those most affected. It follows redundancies earlier in the year where 34 staff were let go.
Microsoft
Job losses: Around 1,000 staff
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.
Equifax
Job losses: Around 24 staff
During an internal review of its staff, Equifax identified 24 employees who were ‘overemployed‘, meaning that they were working two jobs at the same time. CEO Mark Begor told staff ‘We expect our team to be fully dedicated to EFX and have one role …their job at EFX.’
Oracle
Job losses: Around 200 staff
Oracle lays off around 200 employees from its former Redwood City HQ, after relocating to Austin, Texas.
Intel
Job losses: Potentially thousands of staff
Faced with a serious decline in sales, it has been reported that Intel will shortly be making wide-reaching job cuts, potentially slashing its number of employees by up to 20%. The company has already downgraded its sales forecast for 2022 by $10 billion compared to the previous year. An official announcement on this cuts is expected near the end of October.
Spotify
Job losses: Around 40 staff
Spotify closes down eleven of its exclusive podcasts, resulting in the termination of 5% of the company’s employees.
Peloton
Job losses: Around 500 staff
Barely two months since the last round of layoffs at Peloton, which saw nearly 800 staff cut, Peloton lays off another 500. The fitness company offered the perfect lockdown product, but the return to normal life has seen profits slide. However, this could be the last job cut at the company for some time, with CEO Barry McCarthy stating that Peloton is now ‘focused on growth.’
DocuSign
Job losses: Around 650 staff
Touted as part of its restructuring plan, San Francisco based DocuSign announced that it was letting go of 9% of its workforce.
Ericsson
Job losses: Around 400 staff
Telecoms company Ericsson, like many other companies, is halting its Russian presence. This means that the 400 staff who currently work at the Russian arm will be out of work by the end of the month.
Klarna
Job losses: Around 100 staff
Swedish fintech company Klarna announced lay offs this month, marking the second such announcement from the company this year. While it’s small condolence to those affected, Klarna is cutting around 100 staff this time around, compared to the 750 it let go in May.
Inpixon
Job losses: Around 44 staff
Inpixon, a company which provides tech and solutions to map and plan indoor spaces, announced that it was letting go of 20% of its workforce, estimated to be around 44 people. CEO Nadir Ali stated that the company had managed to strengthen its position in recent times, but that it ‘had to be mindful of the current economic environment.’
Twilio
Job losses: Around 850 staff
Twilio, the cloud communications provider announced that it was reducing it’s workforce by 11%. The company had 7,867 at the end of last year. Twilio CEO Jeff Lawson, stated that the decision was made to help run the company more efficiently.
Patreon
Job losses: Around 150 staff
Patreon, the subscription platform for content creators, announced that 17% of its workforce is being cut. Estimated to have around 885 staff in total, the losses represent a significant number of employees. A week previously the company had let go of five members of its security team.
Snap
Job losses: More than 1,280 staff
The company behind Snapchat is making one of the most drastic workforce cullings we’ve seen in months: It will be laying off 20% of its more than 6,400 employees this week. The biggest cuts will be to the teams behind the hardware division, the social mapping app Zenly, and aiding the developers who create Snapchat’s mini apps and games.
Better.com
Job losses: 250 staff
Improbable as it seems, Better.com is making its fourth round of layoffs in a year. A source informed TechCrunch that 250 ‘or more’ roles were on the chopping block. The company attracted criticism at the end of last year when it made mass lay offs via video.
Meta
Job losses: 60 staff
Meta lets 60 contract workers go, from Accenture. According to a report in Bloomberg, the staff were told over video call, and the unlucky employees learned that the decision had been made by an algorithm, say reports.
Apple
Job losses: 100 staff
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
Job losses: 70 staff
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.
Peloton
Job losses: 780 staff
It’s already proved to be a year of change for Peloton – the company had previously cut 2,800 roles and replaced its CEO. It’s been a rocky time for the company, with people ditching their bikes as the pandemic subsides, and a much publicised equipment recall after a death involving one of its products. On August 12th it announced it was cutting a further 780 jobs, with roles affected including delivery and customer support.
Calm
Job losses: 90 staff
Calm, a meditation app, announced that it was cutting 90 employees from its 400 person workforce. Calm CEO David Ko said the company was ‘not immune’ to the current economic climate.
Truepill
Job losses: around 175 staff
Reports from TechCrunch that Truepill, a digital diagnostics company for the health field, has laid off a third of its workforce, around 175 staff. The company has yet to confirm these cuts, but it has already had two rounds of redundancies this year.
Linktree
Job losses: around 50 staff
Australian firm Linktree announced that it was to let go of 17% of its staff, equating to around 50 people.
Microsoft
Job losses: around 200 staff
Business Insider reports that Microsoft is laying off its Modern Life Experiences team, a department focused on professional consumers. The team was originally formed in 2018.
Nutanix
Job losses: 270 staff
San Francisco based cloud software firm, Nutanix, announced a reduction of 270 staff from it’s 6,000 strong global workforce.
Oracle
Job losses: unknown, potentially hundreds
At the time of writing the actual number of layoffs at Oracle is unknown, but there are signs it’s in the hundreds at least, potentially even thousands, globally.
Groupon
Job losses: 500 staff
The voucher discount site laid off 500 staff, around 15% of its total workforce. These redundancies were reportedly across several departments, including sales, marketing, and engineering.
iRobot
Job losses: 140 staff
In August, iRobot, the robot vacuum cleaner brand, made the news, but not for layoffs. The company was acquired by Amazon on August 5th and chose the same day to announce that it was planning to cut 140 jobs — 10% of its workforce.
RingCentral
Job losses: 50 staff
RingCentral‘s layoffs included several senior roles, and are in two rounds, effective on September 18th and 25th. Despite these redundancies, the company is actually weathering the current financial climate rather well, growing revenue by 28% in Q2.
Robinhood
Job losses: around 700 staff
There’s no doubt it’s been a rocky year for this fintech company — this isn’t their only appearance in this list. In August, it laid off 23% of its staff, estimated to be around 700. Its previous round of redundancies in April saw around 300 job losses.
Shopify
Job losses: 1,000 staff
Shopify’s 1,000 redundancies in July represented 10% of the company’s entire workforce. In a message to its staff, the company stated that most redundancies were in recruitment, staff, and sales.
Vimeo
Job losses: around 70 staff
Staff losses at Vimeo in July represented about 6% of the company workforce, with the redundancies being blamed on an uncertain economic future.
TikTok
Job losses: around 100 staff
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.
Microsoft
Job losses: around 1,800 staff
Microsoft’s layoffs of “just” 1% of its staff might not seem so bad, but when you consider that the company employed 181,000 people in 2021, that’s a potential 1,810 people on the chopping block.
Job losses: fewer than 100 people
Twitter paused hiring during Elon Musk’s acquisition of the company, reportedly in an attempt to cut costs. In July, it actually let go of around 100 employees, with the redundancies affecting the talent acquisition team.
Tesla
Job losses: 229 staff
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
Job losses: 300 staff
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.
Klarna
Job losses: around 750 staff
Swedish fintech company Klarna cut a huge 750 staff in May, representing 10% of its workforce, and did so via a pre-recorded message.
Carvana
Job losses: 2,500 staff
Carvana has had a rocky 2022, with a $506 million loss in the first quarter. In an effort to cut back on expenses, the company dropped 2,500 members of staff in May, some of which were told via a video call.
Cameo
Job losses: 87 staff
With redundancies in May, Cameo let go of just under a quarter of its total workforce. The company placed the blame on expanding too rapidly and overestimating its market in a post-pandemic world.
Netflix
Job losses: 150 staff
In May, Netflix let go of 150 staff, including 25 from its fan site Tudum, which launched in December. The site was designed to give Netflix subscribers a behind-the-scenes look at the streaming giant’s shows and driven by an editorial team.
Robinhood
Job losses: around 300 staff
In April, Robinhood CEO stated that the company had cut 9% of the company’s staff, amounting to around 300 people.
Better.com
Job losses: between 1,200 to 1,500 staff
In December 2021, Better.com canned 900 employees, and in doing so hit the headlines, thanks to the way it delivered the message — through a very impersonal Zoom call.
Better.com
Job losses: 3,100 staff
Following on from the 900 staff fired in December over Zoom, Better.com let go of another 3,100 members of staff across both the US and India.