The layoffs would mostly impact engineering roles in the US and Canada, the spokesperson said in a statement. A review of LinkedIn posts shared by Microsoft workers who said they were caught up in the layoffs reveals that positions that were eliminated include solutions associates, direct sales associates, program managers and success managers. A wave of layoffs that hit dozens of US companies toward the end of 2022 shows no sign of slowing down well into 2023. It is estimated that in 2022 alone, over 120,000 people have been dismissed from their job at some of the biggest players in tech - Meta, Amazon, Netflix, and soon Google - and smaller firms and starts ups as well. PayPal announced on January 31 that it plans to cut 2,000 workers or approximately 7% of the company's total workforce over the coming weeks. Presented by Capital Access Alliance. The layoffs are part of the consulting firm's efforts to reorganize support teams and pare down an employee base that has grown rapidly in recent years, per the outlet. Meanwhile, more customers are turning away from food delivery, overall, in an attempt to save money and avoid sky-high fees. "We operate in a highly competitive and constantly evolving industry," Migdal wrote. Compass CEO Robert Reffkin told staffers on Jan. 5 it would conduct more layoffs, following two previous rounds in the past eight months, as the brokerage continues to struggle with significant financial losses. As more automakers shift to electric vehicles, more layoffs are anticipated across the industry. In a June 14 filing, Sonos disclosed it would be laying off around 7% of its workforce, or 130 people. The cuts are a response to the reduction of evening and weekend shifts at select Walmart facilities, including those in Chino, California; Davenport, Florida; Bethlehem, Pennsylvania; Pedricktown, New Jersey; and Fort Worth, Texas, per Reuters. Part of this plan focuses on expanding the company's electric vehicles sales, CNBC reported. The total headcount cut will reportedly amount to less than 1% of Citi's more than 240,000 workers and are part of Citi's normal course of activities. "This is not a case of rightsizing, but rather, re-evaluating whether we have the right talent and expertise in critical roles," the Binance statement continued. However, CEO James Gorman noted last month that underwriting and mergers activity has been "subdued" and that he doesn't expect a rebound before the second half of 2023 or even 2024, Bloomberg noted. But the result will be a far stronger, more competitive Lyft.". "I am heartbroken to share that I have made the difficult decision to reduce our headcount through layoffs. DocuSign plans to slash 10% of employees as part of a restructuring plan "designed to support the company's growth, scale, and profitability objectives," the electronic signature company wrote in a Securities and Exchange Commission filing on Feb. 16. Peloton reported a near $440 million loss in earnings for the quarter ending December 31, 2022, which led to layoffs for 20 percent of corporate staff, or around 2,800 employees. ALBAWABA - Microsoft has confirmed that it will undergo a new round of layoffs just a week into its fiscal year 2024. Playbook: All eyes on Joe Manchin: 2024 edition. "While the full-year 2022, and particularly the fourth quarter, represented a challenging moment for Hasbro, we are confident in our Blueprint 2.0 strategy, unveiled in October, which includes a focus on fewer, bigger brands; gaming; digital; and our rapidly growing direct to consumer and licensing businesses," Chris Cocks, Hasbro's CEO said. The cuts are on top of the previously announced layoffs that totaled more than 18,000 employees. F acebook's parent company Meta is reportedly set to carry out a wave of layoffs Wednesday as part of its longer-term downsizing efforts that will eventually see 10,000 jobs axed. The cuts were in the recruiting department, though the total number laid off is not immediately clear, The Information reported. In the memo, Jassy said the company staggered its layoff announcements because "not all of the teams were done with their analyses in the late fall." The cuts come a month after the company announced a 24% drop in revenue for the second quarter of 2023 as compared to the second quarter of 2022. BNY Mellon is planning to cut approximately 3% of its workforce, or 1,500 jobs, according to the Wall Street Journal, which cited people familiar with the matter. The chemical company also will shut down select assets, mostly in Europe, per the release. Michael M. Santiago - Getty Images More than a year. BuzzFeed announced on April 20 that it was shuttering its BuzzFeed News division, laying off 15% of its staff, or 180 employees, in the process. This round of. Stitch Fix announced on Jan. 5 that it plans to slash 20% of its salaried workforce, the Wall Street Journal reported. In a message to staff sent Thursday, CEO Drew Houston said the cuts are being made, in part, from slowing business growth and the expansion of AI products. Robinhood's Chief Financial Officer Jason Warnick, wrote that the layoffs were done to "adjust to volumes and to better align team structures," according to an internal company message obtained by the Journal. A review of LinkedIn posts shared by Microsoft workers who said they were caught up in the layoffs reveals that positions that were eliminated include solutions associates, direct sales. Access your favorite topics in a personalized feed while you're on the go. BDG owns Bustle, Elite Daily, and other lifestyle and news websites. Sundar Pichai, CEO of Google parent company Alphabet, informed staffers on January 20 that the company will lay off 12,000 employees, or 6% of its global workforce. This is a hard decision and one we're not making lightly. Morgan Stanley is cutting 3,000 jobs by the end of the quarter, Bloomberg reported, citing sources familiar with the matter. In a statement to Insider, a company spokesperson said the decision was intended to "improve profitability in 2023 and continue our efforts to help leave the fashion industry cleaner than we found it.". The "fundamental pivot from a more uniform proposition will allow us to support the creator community better," the memo read. General Motors plans to cut 500 executive-level and salaried positions, according to a report from The Detroit News. While many experts have expected an announcement that the U.S . "While we continue to hire, especially to support our strategic growth priorities, during the second quarter of fiscal 2023, we initiated actions to streamline our operations and transform our non-billable corporate functions to reduce costs," Accenture wrote in the filing. Electronic Arts the video game company best known for its "The Sims," "FIFA," and "Madden NFL" franchises is letting go of 6% of its staff, or about 780 employees, the company announced on March 24. According to TechCrunch, Thoughtworks "initially informed" the affected employees about the decision on February 28. Shopify is slashing 20% of its workforce and selling off most of its logistics business to supply chain company Flexport, the company announced on May 4. The cuts are a result of a structural reorganization of global and regional support teams, which will be downsized from nine to six, but will not cause store closures, according to CNBC. In a memo to Spotify employees, CEO Daniel Ek said the company would cut 6% of its staff, about 600 people. On February 1, the company said it would lay off 4% of its staff and scale back the use of consultants to cut costs, according to a filing viewed by Insider. But trading has only declined since then, as stimulus checks have dried up and inflation rates climbed, granting people fewer disposable income for trading. "As we drive greater focus across our portfolio, we are moving away from projects that do not contribute to our strategy, reviewing our real estate footprint, and restructuring some of our teams," Electronic Arts CEO Andrew Wilson wrote in a blog post to staffers. A spokesperson for Opendoor told Insider by email,"We've been weathering a sharp transition in the housing market the steepest and fastest rate increase by the Fed in 40 years, the more than doubling of mortgage rates from historic lows, and the hit to home affordability have driven an approximately 30% decline in new listings from peak levels last year.". Sales representatives and customer service employees have taken to social media to express their loss of jobs. "As we prepare for the next major bull cycle, it has become clear that we need to focus on talent density across the organization to ensure we remain nimble and dynamic," the spokesperson said. Pokemon Go creator Niantic and trading app Robinhood recently announced layoffs. CEO Satya Nadella attributed the layoffs to customers cutting back in anticipation of a recession. XFL Aiming To Continue For 2024 Season May 31st, 2023 at 2:15pm CST by Adam La Rose The third edition of the XFL took place this spring, and the league is now turning its attention to consolidating its 2023 campaign. And in a challenging economic environment, efficiency takes on greater importance. Lucas Manfredi | April 25, 2023 @ 9:45 AM Getty Images Nate Silver's FiveThirtyEight has become the latest victim in Disney's second wave of layoffs as the entertainment giant continues to carry. The company didn't return a request for comment for this story. After at least a decade of expansion, tech companies have been rattled by inflation along with a slowdown in advertiser spending. "Despite increasingly challenging macroeconomic conditions, we made progress on our 2022 strategic initiatives and continued our efforts to manage costs effectively," GoDaddy CEO Aman Bhutani wrote in an email to staffers. The firm last cut 1,600, or around 2% of its staff in December, Bloomberg noted. The next challenge will be dealing with the reverse scenario, as companies look to shed employees, rather than hire them. While decisions like these are always hard, they are prudent and allow us to continue to build a long-term, successful business for all of you.". IBM plans would cut 1.5% of its staff, roughly 3,900 workers. Some workers reportedly found out they had lost their jobs when they couldn't log into their company emails. ALBAWABA - Microsoft has confirmed that it will undergo a new round of layoffs just a week into its fiscal year 2024. DirecTV employees were told in the first week of January that the company would lay off several hundred workers in management roles. This week we are taking action with a relatively small number of global executives and classified employees following our most recent performance calibration.". In the statement, Witz said "nearly every department" across the company will be impacted. In September, Gap slashed 500 jobs from its corporate ranks in a push to save $250 million annually, the Wall Street Journal reported. That's a necessary burden, economists and the Fed say. Pinterest said it would cut 150 workers, or less than 5% of its workforce, on February 1, the company confirmed to Insider. Jassy cited "the uncertain economy" and rapid hiring as reasons for the layoffs. Hello, and welcome back to CRN's newsletter on the latest news and insights impacting the channel and technology industry over the past week. According to the Financial Times, which first reported the layoffs, the cuts will address "overcapacity" and will largely impact the company's consulting business. She also noted that those impacted will be contacted directly and will have the opportunity to speak with a leader from their department as well as a member of the company's People + Culture team. The cuts come just a few months after the media company laid off 39 roles in July. These reductions come in addition to the previously announced layoffs in . The company is expected to complete the cuts by the end of the second quarter, and also plans to leave and sublease office facilities in an attempt to reduce costs, according to Reuters. Per SEC filings, on March 31, 2020, the company had 123,048 employees; as of Sept. 30, 186,779 employees. Due to which, layoffs have impact not only the tech and IT industry . These days, job seekers feel petrified because of the massive cooling of the previously super-hot market. The year was challenging due to a perfect storm of inflation, volatile foreign exchange, tighter customer budgets, and longer decision making cycles," Rangan wrote to employees. "As part of that work, today we reduced the size of some of our employee teams. Indeed CEO Chris Hyams announced on March 22 that the online networking platform will cut 2,200 jobs, or about 15% of its staff. A spokesperson for Microsoft declined to specify the number of layoffs in the recent round, but the company provided a statement on Monday stating that it affected 276 people in Washington, including 66 virtual roles. Vimeo CEO Anjali Sud told employees on Jan. 4 that the company would layoff 11% of its staff, the video platform's second major round of layoffs in less than a year, after cutting 6% of employees in July, "This was a very hard decision that impacts each of us deeply," Sud wrote in an email to staff. According to NBC News, the company has been in the process of selling and anticipates the pending sale "will likely impact all employees in some manner," an FAQ document sent to employees read. "As the grocery industry continues to rapidly evolve, and as we like all retailers have navigated challenges like the COVID-19 pandemic and continued economic uncertainty, it has become clear that we need to continue to build on these changes," the memo read, per CNBC. "This decision was made solely to meet the evolving skills and process enhancements needed to deliver on the next phase of our tech transformation," the spokesperson said. In the post, Zuckerberg said that members of Meta's recruiting team would learn about the fate of their jobs in March, while tech workers would find out in late April, and business groups would find out in May. Waymo's co-CEOs Tekedra N. Mawakana and Dmitri Dolgov reportedly told employees that 209 employees approximately 8% of the company's staff have been cut this year, according to an internal email seen by The Information. 3 min read. "We're making organizational changes to further set us up to deliver against our company priorities and our long-term strategy," a company representative said.