Notable Tech Layoffs for 2023
The end of 2022 brought a wave of layoffs into the workforce and 2023 shows no sign of slowing down. The current employment market in the US is strong — with low unemployment rates and high job growth — this could all change very quickly as many businesses struggle to adapt to the uncertainty of the economy – Here is a list of notable tech layoffs as we enter 2023.
Microsoft announced on January 18th, part of a cost realignment effort, that they have cut upwards of 10,000 employees (less than 5% of global workforce). Microsoft also announced in a blog they would be implementing the AI chatbot ChatGPT, created by OpenAI, which the company has reportedly invested $10 billion recently.
Goldman Sachs layoffs began on January 11th of 2023. These cuts are estimated to impact roughly 6.5% of their global workforce (3,200 employees). Goldman Sachs previously made cuts to their media and tech departments in September of 2022.
Coinbase announced on January 10th they would be laying off 20% of their staff. In July of 2022 Coinbase had laid off over 1,000employees. Company CEO Brian Armstrong suggests the company’s weakness is directly correlated to the fallout and fraud that took place at FTX last year.
Salesforce announced on January 4th that over the coming weeks they would be laying off 10% of their employees (7,000 people). CEO Marc Benioff stated “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.”
Vimeo announced on January 4th they would be laying off 11% of its staff. The company previously laid off 6% of their employees in July. CEO Anjali Sud stated the company is “operating with the necessary discipline in an uncertain economic environment.”
Amazon announced on Jan 4th they plan to cut 18,000 jobs worldwide centered around the technology departments. Amazon began layoffs in November of 2022 and as part of a cost cutting strategy, they are offering a voluntary severance buy-out package to those employees who resign on their own. These layoffs will impact roughly 3% of the company’s total workforce.
DirecTV announced on January 6 they would be cutting nearly 10% of its management which accounts for about half of its total workforce. Employees were made aware of the layoffs on the 6th and their last day will be January 20th. “The entire pay-TV industry is impacted by the secular decline and the increasing rates to secure and distribute programming,” a DirecTV rep said in a statement.
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