Here's a look at companies that have implemented job cuts and issues affecting Big Tech as firings spread like wildfire throughout the tech sector.
In the technology industry, it feels like there are layoffs every week. An initial hiring freeze in some businesses at the beginning of the year has turned into a major catastrophe. In response to the deteriorating economic climate, major tech companies that went on a hiring binge during the coronavirus pandemic are losing thousands of jobs. (Photo by News18 Creative)
On November 9, Mark Zuckerberg, the CEO of Meta, revealed that the business would be letting go of around 11,000 workers. (Photo by News18 Creative)
A week after Elon Musk took control, Twitter announced on November 4 that it will eliminate half of its global workforce, or around 3,700 workers. (Photo by News18 Creative)
Microsoft announced job cuts in numerous businesses in October. (Photo by News18 Creative)
Starting in November, Amazon intends to let go of about 10,000 employees working in business and technological roles. (Photo by News18 Creative)
Technology giant Apple has issued a warning, with chief executive Tim Cook stating that the company was "still hiring," but only on a "deliberate basis." (Photo by News18 Creative)
Reuters reports that Walt Disney, a production and streaming company, has announced a hiring freeze and job cuts as part of its efforts to make the Disney+ streaming service profitable. (Photo by News18 Creative)
Other businesses that have reduced staff include Netflix and Lyft. (Photo by News18 Creative)
Faced with hazy economic conditions in 2022, the tech sector experienced a wave of layoffs. (Photo by News18 Creative)
During the epidemic, several of these businesses hired a lot of people. The Russian-Ukrainian conflict and inflation have made the global recession worse, putting more strain on the tech sector. (Photo by News18 Creative)
2022 m-cap of FAANG firms. (Photo by News18 Creative)
Keep in mind that an employee receiving a pink slip during a mass layoff is not their fault. Because the company wishes to reduce its size, layoffs take place. (Photo by News18 Creative)
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