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. Microsoft is planning to lay off thousands of employees as soon as tomorrow. 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. 1 billion in charges from the restructuring plan, with up to $1 billion coming in the current quarter. HubSpot: 7% of staff.
Australian firm Linktree announced that it was to let go of 17% of its staff, equating to around 50 people. The company also said it is exiting logistics by closing its warehouses and using third-party providers for delivery. Apple cuts 100 contractor roles across several regions, as reported by Bloomberg. Crypto lender Celsius cut around 150 employees, or a quarter of its staff, on July 3.
General Motors: reported 500 salaried jobs. GoPuff co-CEOs Yakir Gola and Rafael Ilishayev said in a memo that the cuts are "not only accelerating our timeline to profitability, they are taking us back to our roots of keeping profitability at the core of every decision. Software giant Atlassian announces it is cutting around 500 roles, about 5% of its total workforce. CEO Steven Galanis told staff: "To support both fan and talent demand during the pandemic lockdowns, Cameo's headcount exploded from just over 100 to nearly 400. Recent tech company layoffs. New York(CNN Business) Protocol, the upstart technology news website launched by former Politico owner and publisher Robert Allbritton in early 2020, will shutter later this week and lay off dozens of staffers, people familiar with the matter told CNN on Tuesday. Or at least a strong contributor.
For example, Lee says, "while one company might be laying off its advertising division, because they're focused less on advertising revenue, a different company may be actually investing very aggressively in advertising. On February 1, the company said it would lay off 4% of its staff and scale back the use of consultants to cut costs, according to a filing viewed by Insider. "We've decided to reduce our workforce by approximately 12, 000 roles, " Alphabet CEO Sundar Pichai said in an email to employees, adding the cuts were in response to "a different economic reality than the one we face today". Patreon cut 17% of its staff on Sept. 13, or roughly 80 employees. Protocol to close news website | LinkedIn. Download today for access to AI-powered investment me on Twitter or LinkedIn. Last year they announced that they'd lost 200, 000 active clients and suffered a net loss of $78 million. "We have great appreciation for the impact of the journalism that Protocol has produced, and I want to personally thank each of them for the unique talents they brought to Protocol, " Sheikholeslami wrote in an email to staffers Tuesday afternoon. The Journal reports that the company will also scale down the number of projects it works on in an effort to cut costs. LinkTree cut 17% of its staff, or roughly 50 employees, on Aug. 9, CEO Alex Zaccaria announced in a LinkedIn post. Alphabet shares have fallen about 30% over the past year. Convoy, the Seattle-based digital freight network that connects truckers with shippers, is shuttering its Atlanta office and laying off workers as part of a restructuring.
5 million staff have warehouse jobs, the layoffs are concentrated in Amazon's corporate groups. "As our revenue accelerated through the pandemic, we hired too many people leading into this economic downturn we're now facing, and I take responsibility for that, " Benioff said. The company also reported a more than 21% year over year revenue increase for 2022. Alphabet's job losses affect teams across the company including recruiting and some corporate functions, as well as some engineering and products teams. Several employees at collaboration tool startup Mural were let go, according to LinkedIn posts from affected employees, on May 6. What explains recent tech layoffs, and why should we be worried. It follows redundancies earlier in the year where 34 staff were let go. "This was a very hard decision that impacts each of us deeply, " Sud wrote in an email to staff. Bird has around 600 employees. Depression is contagious, and layoffs increase stress and depression, which are bad for health.
Zendesk announced that it would be letting 5% of its staff go, citing cost-reduction initiatives. Yahoo announced it will eliminate 20% of its staff, or more than 1, 600 people, as part of an effort to restructure the company's advertising technology arm, Axios reported on February 9. What we're seeing in one sector — though a substantial one — stands in stark contrast to the rest of the economy, with U. S. Technews focused website will lay off delivery. employers adding 428, 000 jobs in April, more than expected, according to Bureau of Labor Statistics data. If you look for reasons for why companies do layoffs, the reason is that everybody else is doing it. Alphabet-owned Google announced to staff on July 20 that it's pausing hiring for two weeks, The Information reported, following news that it would slow hiring and spending through the rest of the year. Layoffs do not solve what is often the underlying problem, which is often an ineffective strategy, a loss of market share, or too little revenue. Spotify CEO Daniel Ek said in an email to employees that it would slow its hiring targets by 25%. The company said the cuts would cost IBM about $300 million and is related entirely to businesses the company has spun off.
In a statement, Cisco CFO, Scot Herren said "Don't think of this as a headcount action that is motivated by cost savings. Job losses: between 1, 200 to 1, 500 staff. In an email sent to employees, CEO Jennifer Witz said th. Allbritton announced the launch of Protocol in late 2019 to much buzz.
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. We're keeping track of the notable layoffs in tech in 2023, as well as those that happened in 2022, so read on for a timeline of those companies that have been cutting staff. Most of the job cuts will occur over the coming weeks, Benioff said. When a few firms fire staff, others will probably follow suit. Lyft announced in May it was slowing hiring to focus on critical open roles. Waymo reportedly laid off 137 employees on March 1, according to The Information. TikTok reportedly started laying employees off on July 18 as part of a global restructuring plan. The company is backed by SoftBank, and had around 100 employees prior to layoffs. Microsoft, which employs more than 220, 000 people, including 6, 000 in the UK, is said to be contemplating cutting roughly 5% of its workforce, which if accurate would equate to approximately 11, 000 jobs. "We are entering 2023 with a more focused strategy to simplify Vimeo, and ultimately, our team size and composition needs to reflect that focus, " Vimeo CEO Anjali Sud said in a message to employees.
Swedish fintech company Klarna cut a huge 750 staff in May, representing 10% of its workforce, and did so via a pre-recorded message. With redundancies in May, Cameo let go of just under a quarter of its total workforce. "This process is critical to ensure we remain competitive in a rapidly changing environment, and it requires some difficult decisions, " CEO Raj Subramaniam wrote in a letter to staff, which was shared with Insider's Emma Cosgrove. Some speculate that the 5% reduction in workforce may indicate potential for additional layoffs in the year 2023. We hired a lot of people quickly, and market conditions have rapidly changed since then. This is the second major round of firings for, which also had layoffs in July. 5% of the company's global workforce — or roughly 3, 200 staffers — a source told Insider. Affirm announced on February 8 it plans to slash 19% of its workforce, after reporting declining sales that missed Wall Street expectations. Job losses: Potentially thousands of staff. Cazoo employs around 3, 500 people.
Ultimately, we will remain nimble and we will size the firm to reflect the opportunity set. In April, Robinhood CEO stated that the company had cut 9% of the company's staff, amounting to around 300 people. Those affected by the cuts include Xbox, Edge and Devices teams. Affirm co-founder and CEO Max Levchin said in a call with investors that the technology company "has taken appropriate action" in many areas of the business to navigate economic headwinds, including creating a "smaller, therefore, nimbler team. Software company SAP said on January 26 it will slash up to 3, 000 jobs globally in response to a profit slump, with many of the cuts coming outside of its headquarters in Berlin, the Wall Street Journal reported. Prior to this, then-CEO Parag Agrawal announced in a memo that it would freeze hiring and pull back spending. According to the report, the company could be cutting as much as five percent, or 11, 000 jobs, from its workforce. Google has just announced they'll be laying off 12, 000 people in 2023. Those that remain will have the privilege of remote working taken away and be expected to return to the office.
Agrawal said the company made these decisions after struggling to meet audience and revenue growth goals, though the company has faced some internal turmoil amid Elon Musk's takeover deal. Together, both layoffs affected more than 1, 000 employees. "We were seeing the tailwinds of the pandemic accelerate the adoption of e-commerce shopping, and I personally pushed hard to hire a strong team to support that growth. Telecoms company Ericsson announces plans to cut 1, 400 roles in its native Sweden, in an attempt to cut costs. San Francisco video messaging start up Loom announces that it is cutting 23 employees, representing around 10% of the company's staff.
A lot of these hiring slowdowns, like at Microsoft, are contained to specific departments rather than companywide.
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