More than 81,000 employees lost their jobs in massive US layoffs in January alone. forbes It began tracking job cuts last summer, including significant job cuts at Amazon, Google, Salesforce and Microsoft. Last year, more than 120 U.S. companies implemented massive job cuts as fears of an economic recession persist through 2023.
January’s biggest job cuts came from Amazon, which cut more than 18,000 jobs in addition to layoffs in November, and CEO Andy Jassy said the company is facing rapid growth during the Covid-19 pandemic. He later said he was facing an “uncertain economy.”
Google’s parent company, Alphabet, announced on January 20 that it will cut 12,000 jobs worldwide in a restructuring plan. This comes after Microsoft’s decision to cut 10,000 employees in an “era of profound change” when customers are “doing more with less.”
Last week alone, San Jose, Calif.-based cloud data management company NetApp announced in a filing with the Securities and Exchange Commission that it would cut 8% of its workforce (about 960 employees). Consumer spending joins Salesforce (7,900 people) and HubSpot (500 employees), as well as other tech companies including PayPal, which said it would cut his 7% of the company (2,000 positions). rice field.
Groupon also laid off 500 employees last month, representing 15% of its workforce, as part of its restructuring plan.
Software company IBM also reportedly laid off 3,900 employees, toy maker Hasbro cut 1,000 jobs, furniture e-commerce company Wayfair cut 1,750 jobs, and chemical company Dow cut 2,000 jobs. Spotify has cut 600 jobs, manufacturing giant 3M has cut 2,500 jobs, and vacation rental management company Vacasa Let has cut jobs. 1,300 go.
Recent layoffs include major banks such as Capital One, which reportedly cut 1,100 jobs; Goldman Sachs, which reportedly cut 3,200 employees; Crypto.com (2,500 employees); Gemini (100 people), Coinbase (950).
Rising inflation and fears that the economy could slip into recession led to a wave of layoffs last summer that ran through the fall and winter, cutting about 125,000 jobs from massive job cuts from June to December. of U.S. employees were laid off.From banks to tech companies and manufacturers, according to forbes layoff tracker. The cuts at more than 120 companies follow reports that inflation hit a 40-year high last summer, with gas prices averaging 5.02 a gallon last June. Markets cooled from pandemic highs as home sales collapsed as the dollar hit a record high. In November alone, about 46,000 U.S. employees lost their jobs due to drastic job cuts, according to the company. forbes Following four rate hikes by the Federal Reserve aimed at curbing rising inflation, the Tracker.
In the first two days of February, electric car maker Rivian announced it would cut its workforce by 6%, shipping giant FedEx announced a 10% cut, and Boston-based online sports betting company DraftKings. announced that it will cut 140 people (3.5% staff). Meanwhile, social media platform Pinterest laid off 150 of his employees (5%), while Impossible Foods cut about 140 (20%), Bloomberg reported. Struggling retainer Bed Bath & Beyond has also reportedly initiated the latest layoffs, according to a message to employees, but did not disclose how many employees will be affected by the cuts.
Nearly 60,000 people were laid off in January as long as big companies ramp up job cuts (Forbes)
2023 Headcount cuts: Rivian Automotive cuts 6%, FedEx cuts 10% of management positions (Forbes)
Goldman Sachs reportedly to cut more than 3,000 jobs as massive layoffs continue for 2023 (Forbes)