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Tech Company Layoffs in 2022 — According to a Crunchbase News count, more than 67,000 people in the American IT sector have already lost their jobs in 2022 as of mid-November.
And according to layoffs.fyi, a website that records job losses in the technology sector, more than 35,000 tech professionals from 72 different organizations have been let go this month, bringing the total number of tech jobs lost this year to 120,000. Even while each corporation deals with its unique problems, it’s reasonable to conclude that a recession is starting.
Many IT firms responded to concerns about an impending recession by slowing hiring when global economic headwinds began to ramp up earlier in the year. Below are the Top 5 Tech Companies Layoffs in 2022.
Meta: 11,000 Tech Company Layoffs 2022
CEO Mark Zuckerberg said in a letter to colleagues on Wednesday that Meta is letting go 13% of its workforce, or more than 11,000 workers.
Mark Zuckerberg just shared the following with Meta employees:
“Today I’m sharing some of the most difficult changes we’ve made in Meta’s history. I’ve decided to reduce the size of our team by about 13% and let more than 11,000 of our talented employees go. We are also taking a number of additional steps to become a leaner and more efficient company by cutting discretionary spending and extending our hiring freeze through Q1.
I want to take accountability for these decisions and for how we got here. I know this is tough for everyone, and I’m especially sorry to those impacted.”
Mark Zuckerberg – META CEO
Amazon: 10,000 Tech Company Layoffs 2022
Two days after various sites said the e-commerce giant planned to fire 10,000 workers this week, Amazon announced on Wednesday that layoffs had started at the business.
According to a message released to the public by Dave Limp, senior vice president of devices & services at Amazon, the initial layoffs will have an impact on jobs on the devices and services team.
“After a deep set of reviews, we recently decided to consolidate some teams and programs. One of the consequences of these decisions is that some roles will no longer be required,”
Dave Limp, Amazon’s senior vice president of devices and services
According to the Times, the 10,000 anticipated layoffs would represent a much smaller portion of Amazon’s corporate personnel—about 3%—than its workforce.
Twitter: 10,000 Tech Company Layoffs 2022
There is pressure on Musk to increase the company’s earnings despite his claim that he overpaid for the platform at the $44 billion purchase price. The business is losing $4 million per day, he claimed earlier this month.
Former employees claim that the job layoffs entirely decimated several teams, including those responsible for policy, communications, tweet curation, ethical AI, data science, research, machine learning, social good, accessibility, and certain key engineering teams.
Several media publications stated that ten days after the first wave of layoffs was disclosed, Twitter had also fired 4,400–5,500 contract workers without warning. The majority of contract workers reportedly learned they had been fired after being denied access to the company’s email and internal messaging platforms, according to many news media sources.
Stripe: 1,100 Tech Company Layoffs 2022
CEO Patrick Collison informed colleagues in a message on Thursday that the huge online payment company Stripe will be letting go about 14% of its workforce.
Today we’re announcing the hardest change we have had to make at Stripe to date. We’re reducing the size of our team by around 14% and saying goodbye to many talented Stripes in the process. If you are among those impacted, you will receive a notification email within the next 15 minutes.
For those of you leaving: we’re very sorry to be taking this step and John and I are fully responsible for the decisions leading up to it.We’ll set out more detail later in this email.
Stripe CEO Patrick Collison
Coinbase: 1,100 Tech Company Layoffs 2022
A message from Coinbase CEO and Cofounder, Brian Armstrong clearly stated that the company will be laying off 18% of its current workforce, below is the official statement;
Team,
Today I am making the difficult decision to reduce the size of our team by about 18%, to ensure we stay healthy during this economic downturn. I want to walk you through why I am making this decision below, but first I want to start by taking accountability for how we got here. I am the CEO, and the buck stops with me.
Coinbase CEO and Cofounder, Brian Armstrong
Conclusion on the Tech Company Layoffs
The state of the economy is swiftly changing; following a 10-plus-year economic boom, it appears that we are approaching a recession. Businesses are now dealing with more pushback to their invasive advertising tactics. For instance, Apple makes it more difficult to track users’ internet activities and sell that information to marketers.