The U.S. tech sector layoffs continue. Tech giants Twilio and DocuSign were just a couple of the companies that announced sweeping layoffs recently.
More than 93,000 workers in U.S.-based tech companies have been laid off in mass job cuts so far in 2023, according to a Crunchbase News tally, and the year is just getting started. That number includes Twilio’s 1,500-person cut, DocuSign’s 680-worker cut, and Wix‘s 370-person layoff announcements this week.
Last year, more than 140,000 jobs were slashed from public and private tech companies as they were forced to confront rising inflation and a tumultuous stock market. The economy has come to reckon with a culture of overzealous hiring and soaring valuations, and startups are now forced to carry themselves through a frosty market as venture funding becomes barren.
Tech companies as big as Qualtrics, Carta, and Verily have slashed jobs this year, citing overhiring during periods of rapid growth. To keep tabs, we’ve compiled a list of recent layoff announcements from U.S.-based tech companies.
Amazon
Amazon will lay off an extra 9,000 employees after making significant job cuts earlier this year, the company said on Monday.
Given the uncertain economy in which we reside and the uncertainty that remains in the foreseeable future, we have chosen to be more efficient in our costs and personnel.
In a statement, Amazon CEO Andy Jassy said.
In addition to the layoffs that were previously announced in November, Amazon revealed plans to cut just over 18,000 roles in total at the beginning of January.
Some people might wonder why we didn’t include these role reductions in the ones we already disclosed, Jassy remarked. The simple answer is that not all of the teams completed their analyses by the end of the fall. Rather than rushing through these assessments without the necessary care, we elected to disclose these decisions as we made them so people could learn about them as soon as possible. According to a Jassy email issued to staff members last fall, the majority of positions eliminated were in the teams responsible for the Amazon Shops, People Experience, and Technical Solutions.
Twilio
A cloud computing startup named Twilio announced on Monday that it intends to fire nearly 1,500 employees, or 17% of its workforce.
The CEO and co-founder of Twilio, Jeff Lawson, stated in a note to staff that the business environment has grown increasingly difficult.
Environments change, and that means we must, he declared. Profit must now have a much higher priority than it did previously. Sadly, even though we’re leaving the last phase with a solid market position and substantial financial reserves, they won’t be enough to get us through the following one.
Due to the fact that many of the company’s employees work remotely, Lawson also disclosed that the San Francisco-based business plans to close some of its offices in the upcoming months.
Zoom
Video conferencing company Zoom has laid off about 1,300 employees, or 15% of his workforce, CEO Eric Yuan said in his Feb. 2 memo to employees. said in 7.
“As the world transitions to post-pandemic life, we see people and businesses continuing to rely on Zoom,” he added. The impact means we need to take a tough, but important, inward look to recalibrate ourselves to weather the economic environment.”
Yuan said the company boomed during the pandemic, triple his size in two years.
Salesforce
Announced on January 4 that it’s cutting 10% of its workforce, impacting more than 7,000 employees. A month later, some employees had just found out they were also a part of the 10% layoff announcement.
Google’s parent company, Alphabet, announced on January 20 that it will cut about 12,000 jobs from its global workforce.
The decision affects about 6% of the company’s workforce.
“This is a testament to the hard work we’ve done to hire and have enjoyed working together. It means saying goodbye to incredibly talented people. I deeply apologize. The fact that these changes affect the lives of Googlers weighs heavily on me, and I take full responsibility for the decisions that have brought us here.”
Google CEO Sundar Pichai said in an email to Google employees on Friday morning.
Pichai told employees the company was “definitely going through a difficult economic cycle” and was “re-examining our cost base and directing people and capital to our top priorities.”
Microsoft
Microsoft announced on January 18th that it will lay off 10,000 employees this year, affecting nearly 5% of Microsoft’s global workforce.
Microsoft’s layoffs are in response to “changing macroeconomic conditions and customer priorities,” the company said in a filing with the US Securities and Exchange Commission.
Satya Nadella, CEO at Microsoft, said in a memo to employees Wednesday:
He went on to say that “some parts of the world are in recession and others are forecasting recession, which has put businesses in every industry and region on high alert.”
Coinbase
Cryptocurrency trading platform Coinbase has announced it will lay off 950 employees. 10 Statement by CEO Brian Armstrong.
“Having considered the 2023 scenarios, it became clear that we needed to cut spending to increase our chances of success in each scenario,” Armstrong said in a statement.
“It’s always hard to say goodbye to a colleague, but there was no way we could cut costs significantly without considering a change in personnel.”
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