In November, Meta announced that it would cut 11,000 employees, or about 13% of its workforce, in the first layoffs in the company’s 18-year history. Related: Oracle makes health unit layoffs, report says “So far we’ve gone through two of the three waves of restructuring and layoffs that we had planned for this year - in our recruiting and technical groups,” Zuckerberg said during an April 26 conference call to discuss the company’s first-quarter results. ![]() Meta is in the midst of cutting 21,000 jobs in 2023 as part of what CEO Mark Zuckerberg has described as a “year of efficiency” for the company. The company’s second round of layoffs in April cut technical positions, according to LinkedIn posts. Meta declined to comment in response to a request from MarketWatch for confirmation of the latest layoffs. MetaĪlso had its latest round of layoffs in late May, according to reports, marking the tech giant’s third round of cuts this year. News of the job cuts was first reported by Bloomberg. “However, doing so requires adapting over the past few months, our senior leadership team has worked closely with HR to determine the optimal organization for this next chapter.” AlibabaĬhinese tech giant Alibaba Group Holding Ltd.’sĬloud unit also started cutting 7% of staff, Barron’s reported in late May, citing a source familiar with the matter. “This fundamental pivot from a more uniform proposition will allow us to support the creator community better,” she added. +0.01% announced plans to lay off approximately 200 people, or 2% of the company’s workforce. In a post, Sahar Elhabashi, head of Spotify’s Podcast Business, said that the company was expanding its partnership efforts with leading podcasters from across the globe with “a tailored approach” optimized for each show and creator. MarketWatch has reached out to Oracle with a request for comment on this story. Has laid off hundreds of employees, cut back open positions and rescinded job offers at its health unit. Last week, Insider reported that Oracle Corp. Related: Robinhood is laying off around 7% of staff, WSJ reports Oracle “In some cases, this may mean teams make changes based on volume, workload, org design and more.” “We’re ensuring operational excellence in how we work together on an ongoing basis,” a Robinhood spokesperson told MarketWatch. Is laying off around 7% of its full-time staff, or about 150 people. On Monday, the Wall Street Journal reported that stock-trading app Robinhood Markets Inc. Related: Tech Layoffs In 2022: The U.S.Here’s a look at the list of big names across a number of sectors that have been cutting back their workforces.Tech Layoffs Analysis: Late-Stage Startups Are Hit The Hardest.While Spotify is the latest to slow down hiring, it likely won’t be the last. Public tech companies and early-stage startups have gone through layoffs as well, but not nearly as frequently as late-stage startups (you can read more about the breakdown here). ![]() For tech companies based in the United States that have initiated layoffs, more than half of the companies in our database had raised a Series C round or beyond. And layoffs appear to be affecting late-stage private tech companies the most, according to a Crunchbase News analysis of aggregated layoff data. Tech companies have been hit the hardest amid volatility in the public markets. For some reported layoffs it’s unclear how many employees were let go, and layoffs at some companies go unreported. ![]() U.S.-based tech companies, both public and private, have laid off more than 21,000 employees as of this week. Not aloneĪlong with fewer new hires, companies such as Coinbase have rescinded job offers, and nearly 100 U.S.-based tech companies have laid off staff, according to a Crunchbase News tally. Other companies such as Uber, Microsoft and Instacart have all said they will slow down hiring in light of the macroeconomic conditions (the S&P 500 closed in bear market territory this week). Spotify is the latest company to scale back hiring amid turmoil in the public markets and a possible recession.
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