Layoffs by big tech companies continue to occur at an increasing rate. They have given a variety of justifications for the action, including overhiring, hazy global macroeconomic conditions, the COVID-19 pandemic, and more.
These leading tech companies have the following to say about firing workers:
1. Meta(11000 job cuts)
When COVID first went live, the online world was evolving quickly, and the e-commerce boom resulted in an enormous rise in revenue. Many people thought that this acceleration would continue long after the pandemic had passed. I shared that sentiment, so I made the decision to significantly increase our investments.
“Unfortunately, things didn’t turn out the way I had planned.” In addition to returning to previous trends, the macroeconomic downturn, increased competition, and loss of advertising dollars have also helped.
2. Google(12000 layoffs)
Google, a multinational technology company, focuses on providing services and goods for the Internet.
When Larry Page and Sergey Brin were pursuing their doctorates at Stanford University in California in 1998, they founded the business. The search engine, the most popular search engine on the Internet, is Google’s flagship product.
The company also offers a wide range of other products and services, such as Gmail, Google Maps, Google Drive, Google Calendar, Google Translate, YouTube, Google Photos, Google Assistant, Google Home, Google Chromecast, Google Nest, and Google Pixel line of smartphones.
Google also offers a variety of enterprise services, including Google Cloud Platform and G Suite. Google has become one of the world’s most valuable and well-known companies, with a market capitalization of over $1 trillion as of 2021.
Over the past two years, there have been instances of dramatic growth. To match and support that growth, we hired for a different economic reality than the one we currently experience.
I have hope for the vast opportunity that lies ahead of us because of the power of our mission, the worth of our products and services, and our early investments in AI.
To fully capture it, Sundar Pichai, the CEO of Alphabet and Google, said, “We must make difficult decisions.”
3. Microsoft(10000 layoff)
Microsoft is a multinational technology company that develops, licenses, and sells computer software, consumer electronics, personal computers, and related services.
The company is headquartered in Redmond, Washington. Microsoft is best known for its Windows operating system, Microsoft Office Suite, and Internet Explorer web browser.
The company also produces hardware products such as the Surface line of tablets and laptops, the Xbox game console, and the Bing search engine. Microsoft also offers a wide range of services such as Azure, a cloud computing platform, LinkedIn, a professional networking platform, and Teams, a collaboration and communication platform.
Microsoft has a wide range of products and services that cater to different segments of customers and industries.
Microsoft has become one of the largest and most profitable companies in the world, with a market capitalization of over $2 trillion as of 2021.
“Just as we saw them increase their digital spending during the pandemic, customers are now optimizing their digital spending to accomplish more with less.”
Additionally, as some regions of the world are experiencing a recession and others are preparing for one, businesses in every sector and region are exercising caution. Satya Nadella, CEO and Chairman of Microsoft, says.
4. Amazon(18000 job cut)
Amazon, a global technology company with headquarters in Seattle, Washington, It is best known for its online retail platform, which provides a variety of goods and services, such as books, electronics, clothing, groceries, and more. Jeff Bezos established the business in 1994, and since then it has expanded to rank among the biggest and most valuable businesses in the world.
In addition to its e-commerce platform, Amazon also offers a variety of other services and products, such as Amazon Web Services (AWS), a cloud computing platform; Amazon Prime, a subscription service that offers free shipping and other perks, and the Kindle, a line of e-readers.
The company also has a streaming service called Amazon Prime Video, and a music streaming service, Amazon Music.
Amazon has also ventured into brick-and-mortar retail with the purchase of Whole Foods and the opening of its supermarket, Amazon Go.
Amazon is also involved in the development of voice-controlled personal assistants, Alexa, and the Echo line of smart speakers. The company has a market capitalization of over $1.6 trillion as of 2021.
The macroeconomic environment is still unusual and unstable, as you are aware. In light of this, we have been working over the past few months to further prioritize what is crucial to our clients and the business. Recently, after conducting a thorough set of reviews, we made the decision to combine some teams and programs.
The review this year has been more difficult, says Amazon CEO Andy Jassy, “given the uncertain economy and the fact that we have hired quickly over the last few years.”
5. Salesforce (7,000 layoffs)
Customer relationship management (CRM) platform and business Salesforce. Its main office is in San Francisco, California, and it was established in 1999 by Marc Benioff and Parker Harris.
The company’s flagship product is its CRM platform, which is a cloud-based software-as-a-service (SaaS) offering.
It provides businesses with tools for managing customer data, automating sales, marketing, customer service, and support, as well as analytics and reporting.
The platform also offers a wide range of customization and integration options, allowing businesses to tailor it to their specific needs. Salesforce also provides a platform for building and deploying custom applications, called the Salesforce App Cloud, which allows developers to create custom apps that run on the Salesforce platform.
Salesforce also has a wide range of products and services catering to different industries, such as Salesforce Marketing Cloud, Salesforce Commerce Cloud, Salesforce Service Cloud, and Salesforce Community Cloud.
Salesforce is considered one of the pioneers of the SaaS model and is considered one of the most successful companies in this field, with a market capitalization of over $200 billion as of 2021.
“I accept responsibility for the fact that we overstaffed as a result of the pandemic, which caused the economic downturn we are currently experiencing. Our customers are making more thoughtful decisions about their purchases as a result of the challenging environment, “Marc Benioff, CEO of Salesforce, says.
6. IBM (3,900 job cuts)
International Business Machines Corporation (IBM) is a multinational technology company that provides a wide range of products and services related to technology, including computer hardware, middleware, and software.
It was founded in 1911 and is headquartered in Armonk, New York. IBM is one of the oldest and largest technology companies in the world, with a history spanning over a century.
IBM’s main product lines include the IBM Z mainframe computers, Power Systems, and Storage systems. The company also provides a range of services, including consulting, application management, and outsourcing services.
IBM has a strong presence in the enterprise software market, with products such as the IBM WebSphere application server, the IBM DB2 database, and the IBM Lotus Notes collaboration software.
IBM also has a wide range of solutions in the fields of artificial intelligence, cloud computing, and quantum computing. IBM Watson is a set of AI services and solutions that allow businesses to analyze data and make predictions based on that data.
IBM Cloud is a collection of cloud computing services that enable businesses to store and access data remotely. IBM Q System One is a quantum computer that is considered the first-ever integrated quantum computing system.
IBM has a market capitalization of over $100 billion as of 2021.
We expect to deal with these remaining stranded costs in the first quarter of this year and record a charge of about $300 million as a result of several significant portfolio decisions we made over the past few years. IBM’s chief financial officer, James Kavanaugh
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