Lyft is preparing to lay off more than 1,000 employees in a mission to cut costs and become profitable. This represents a 30% cut in staff numbers. Employees will hear more next Thursday.
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Microsoft CEO Satya Nadella has confirmed that the company is laying off a massive 10,000 employees starting today. The company will be offering support to those affected by the job cuts.
Amazon is set to commence its huge layoff today which will affect 18,000 employees in America, Europe, and possibly elsewhere. The layoffs were announced earlier this month by CEO Andy Jassy.
New data from ZipRecruiter has found that 79% of tech workers that were laid off have found new employment within six months. Of those, 74% remained in the tech sector while others moved.
Gartner has downgraded its semiconductor revenue growth estimate for next year. The analyst has earlier predicted higher growth, but now revenue will fall by 3.6% in the coming year.
Twitter could face bankruptcy soon, depending on whether it can start to make money and based on how long the downturn lasts. As a first step, Elon Musk has been pushing for an $8 subscription model.
Salesforce decided to make less than 1,000 employees redundant earlier this week after it saw a decline in custom from small and medium-sized businesses, predominantly in North America and Europe.
Mark Zuckerberg has told executives in a meeting on Tuesday that layoffs will begin on Wednesday morning. Thousands of jobs are expected to go. Four months of salary will be paid as severance.
Amazon has said it'll be pausing incremental hiring to its corporate workforce for the next few months due to the state of the economy. Teams at Amazon will have to be more productive, too.
Sundar Pichai and other Google execs have been answering employees' questions at an internal meeting. Various expenses are being targeted for cuts as the firm tries to weather the economic storm.
Calm is the latest technology company to announce that it's laying off some of its employees. The firm decided to cut 20% of jobs after it saw a 30% decline in app downloads over the last year.
Google has launched a Simplicity Sprint where it will attempt to boost productivity. The bad economy means that sales have dampened, and now it needs to be more productive with its resources.
Meta has reported its first-ever quarterly revenue drop. As a result, CEO Mark Zuckerberg told investors that he would be looking for ways that the company can do more with less resources.
Elon Musk has e-mailed employees to say the firm is pausing hiring and that it will have to let go of around 10,000 workers. It comes as inflation causes people to reduce their spending on luxuries.
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