Rising inflation and a looming recession are worrying the tech industry. After years of growth, companies are preparing for lean years and cutting headcount.
AMAZON
Online retailer wants to cut 10,000 jobs. That’s about three percent of the approximately 300,000 employees in administration. The company said the number could still rise.
META PLATFORMS
Facebook’s parent is cutting jobs for the first time since the company was founded in 2004. The company is suffering from plummeting advertising revenues and billions in losses from its ‘Reality Labs’ division. Among other things, the development of the “Metaversum” is grouped in it – a virtual world that the head of the company Mark Zuckerberg considers particularly promising. A total of 11,000 jobs will be lost. This corresponds to 13 percent of the workforce.
INTEL
Company chief Pat Gelsinger wants to save three billion dollars (2.8 billion euros) at the chipmaker in 2023. This also included “staff measures,” he told Reuters news agency. He did not provide any information on the extent of possible job cuts.
MICROSOFT
According to a media report, the software group is cutting nearly 1,000 of its 221,000 jobs.
After taking over the short messaging service, new owner Elon Musk has laid off around 3,700 employees, half of the workforce.
BAND
The online payment service provider is cutting 14% of its jobs. According to an internal email from the founders, the company will still have about 7,000 employees after the dismantling.
LIFT extension
Nearly 700 people have to leave Uber’s rival. That’s 13 percent of employees. The guide service agent had previously cut 60 jobs and halted new hires.
SEAGATE
As part of its austerity programme, the supplier of memory chips and hard drives wants to cut 3,000 jobs. This corresponds to about eight percent of the workforce.
CURRENCY
The cryptocurrency exchange has announced two job cuts in 2022. A total of nearly 1,200 employees or about 20% of the workforce are affected.
YEAR
The maker of devices for receiving video streaming services is reducing its workforce by five percent or 200 employees due to “current economic conditions”.
CISCO
The network equipment supplier has imposed a restructuring program. As part of this, five percent of jobs could be lost.
hp
According to its own statements, the computer maker is expected to cut 6,000 jobs by 2025.
