Massive layoffs in the US tech industry continue through 2023 as companies prepare for a year of continued economic uncertainty. Over the New Year weekend, Salesforce and Amazon were the first to announce plans to cut thousands of jobs, confirming previous reports of significant cost-cutting efforts at these companies. Salesforce announced on Jan. 4 that it would cut its 10% of its workforce, affecting up to 8,000 employees and closing some offices. Amazon said today (January 5) that ongoing layoffs at the company could eventually bring him to 18,000, or 1.3% of his global workforce. Employees in retail and human resources departments will be most affected, according to Amazon.
Like many other big tech companies, Amazon and Salesforce admitted to over-hiring during the pandemic when business was booming. Both companies have more than doubled their headcount from 2020 to 2022. So did Meta, which in December announced plans to lay off 11,000 employees. This is the largest cut in the company’s 18-year history.
In 2022, high inflation and soaring interest rates have constrained consumer and business spending, forcing many businesses to weaken demand. More than 1,000 tech companies will cut jobs in 2022, according to layoffs.fyi, a continuous list of crowdsourced companies that have cut jobs since the pandemic began in March 2020. That tally includes his Twitter, and Elon Musk, in his first four weeks as company owner and de facto CEO, had 75% of his workforce, or about 5,000. was fired.
Job cuts have also spread to media and real estate firms, whose businesses have been hit by cut advertising costs and soaring mortgage rates. CNN, Buzzfeed and The Washington Post announced his layoffs in December. Zillow and Redfin removed hundreds of positions a few months ago.
Below is a list of the most notable layoffs for October 2022 and beyond.