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As the economy struggles and interest rates rise, the tech industry faces a wave of layoffs that has been sweeping the sector since last year. Many companies overestimated the demand during the pandemic and hired more workers than they could handle. Now they are cutting costs by letting go of thousands of workers, from big tech giants like Meta, Microsoft and Amazon to startups and utilities. Meta recently announced its biggest job cuts to date, with 10,000 employees losing their positions. In this article, we will explore more examples of these layoffs in the company.
Three killed 10,000 people
Meta announced on Tuesday that it will reduce its workforce by 10,000 people. This comes after the company, formerly known as Facebook Inc, laid off 11,000 workers four months ago. Meta Platforms is the first major technology company to have two rounds of mass layoffs in a short period of time.
The company’s CEO Mark Zuckerberg said in a memo to employees that the decision is part of his plan to make 2023 the “Year of Work”. He said he wants to cut $5 billion in costs and focus on building the metaverse, an integrated online community that connects all of its products and services.
Microsoft lays off AI ethics team
Microsoft leaves its entire team dedicated to ensuring that artificial intelligence innovations are ethical and lead to responsible and sustainable results. These surprises are part of a recent spate of layoffs that led to 10,000 workers losing their jobs across the company in various departments. The behavior and the social group are not very large, with only 7 people who died following the resettlement in October.
The move comes as Microsoft pours billions into its partnership with OpenAI, the company behind ChatGPT and the technology that powers Bing’s new AI-enhanced. Despite some really impressive capabilities, AI chatbots are still in their infancy and are causing controversy surrounding ethical concerns. Microsoft’s move calls into question its commitment to ensure its AI technology is on the ground and address the ethical concerns it raises.
Atlassian lays off 5% of its workforce
Atlassian, the company behind tools like Jira, Trello, and Confluence on March 7 announced that it is now laying off 500 employees after a reorganization last month. That’s around 5% of your total workforce. The company continued to report net losses in its quarterly earnings releases even as company founders Mike Cannon-Brookes and Scott Farquhar said in the announcement that the move should not be seen as a reflection of the company’s financial performance. the job.
“We have made hard calls to reduce our investment in certain areas, to reinvest in others,” the founders wrote. “This is different from cost-driven downsizing, where you would look to make ‘broad-based’ cuts – for example, a 10% cut normally distributed across the entire org within the company. This is not what is happening here. “
Waymo goes through 2nd round of layoffs
Self-driving car company Waymo is going through its second round of layoffs this month. The Alphabet division has cut 137 staff members, bringing the total cuts to 8% of its workforce this year – or 209 employees in total. Waymo said the cuts will allow it to “focus on business success.” The news comes the same week Waymo announced plans to launch fully autonomous vehicles.
Twitter laid off 200 more employees
Following Musk’s takeover in late October 2022, Twitter has laid off 50 percent of its 7,500-strong workforce. But as it stands, the layoffs are far from over. The company has hired more than 200 employees in the last month, and one of them is even a loyalist of Elon Musk – Esther Crawford, the senior director of Twitter payments who manages the subscription Blue platform. A post on Blind, an anonymous platform for verified employees, reveals the scale of executions so far: 50% in human relations, 60% in sales and marketing, 35% in technology, 40% in finance and 80 % in project management.
GitHub to fire 10% of its staff
Microsoft’s Internet hosting service for software development GitHub followed its parent company in announcing the layoff last month, saying it was letting go 10% of its workforce by the end of its fiscal year. It is reported that the company already has 3,000 employees, meaning that 300 employees are about to be laid off. GitHub is also closing all of its offices, in part because they are not fully utilized, and will make way for a remote-only culture. The company is also continuing its hiring freeze which was first announced in January.