the bongino report

Tech Industry Job Cuts Come Rapidly and in Big Numbers

Nearly 50,000 people have visited the site in the last month alone. job cuts All sectors of the technology industry. Small and large tech Due to the increased demand for their products and software due to millions of people working remotely, companies have been on an unprecedented hiring spree over the past few years. Despite all the layoffs that have been announced recently, tech companies are still much larger than they were three decades ago. Here’s a look at some of the companies that have announced layoffs so far.

August 2022

Snap: Snapchat’s parent company announced that 20 percent of its employees would be leaving the company. Snap’s staff has grown to more than 5,600 employees in recent years and the company said at the time that even after laying off more than 1,000 people, its staff would be larger than it was a year earlier.

Robinhood: The app that helped investors find new investors was used by Robinhood to announce that the company would reduce its headcount by 23 percent, which is approximately 780 people. A previous round of layoffs in 2013 saw the company lose 9 percent of its workforce.

November 2022

Twitter: About half of the social media platform’s staff of 7,500 was let go after it was acquired by the billionaire CEO of Tesla, Elon Musk.

Lyft: Lyft, a ride-hailing company, announced it was reducing 13 percent of its workforce. This is almost 700 employees.

On April 30, 2020, a Lyft ride-hailing car sits in an unoccupied lot near Empower Field at Mile High. (David Zalubowski/AP Photo)

Meta: Facebook, the parent company, laid off 11,000 workers or about 13 percent.

January 2023

Amazon: Amazon stated that it had to reduce 18,000 jobs. That’s just a fraction of its 1.5 million-strong global workforce.

Salesforce: About 8,000 employees are laid off by the company.

Coinbase: A second round of layoffs by the cryptocurrency trading platform, Coinbase, took place in less than a full year. It saw approximately 20% of its workforce go, or roughly 950 jobs.

Microsoft: Microsoft said that it will eliminate almost 10,000 jobs, which is close to 5 percent of the company’s workforce.

Microsoft logo
The Microsoft Corp. logo in Redmond at the Microsoft Visitor Center, Wash. on July 3, 2014. (Ted S. Warren/AP Photo)

Google: Google, the search engine giant, is now the latest to declare it needs to adjust. It said that 12,000 employees, or 6 percent, of its workforce would be laid off.

The Associated Press

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