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Tech industry job cuts come rapidly and in big numbers

Tech industry job cuts come rapidly and in big numbers
This July 3, 2014, file photo, shows the Microsoft Corp. logo outside the Microsoft Visitor Center in Redmond, Wash. In just the past month of Jan. 2023, there have been nearly 50,000 job cuts across the technology sector. Large and small tech companies went on a hiring spree in over the past several years due to a demand for their products, software and services surged with millions of people working remotely. Credit: AP Photo Ted S. Warren, File

In just the past month there have been nearly 50,000 job cuts across the technology sector. Large and small tech companies went on a hiring spree in over the past several years due to a demand for their products, software and services surged with millions of people working remotely. However, even with all of the layoffs announced in recent weeks, most tech companies are still vastly larger than they were three years ago. Here's a look at some of the companies that have announced layoffs so far.

August 2022

Snap: The parent company of social media platform Snapchat said that it was letting go of 20% of its staff. Snap's staff has grown to more than 5,600 employees in recent years and the company said at the time that even after laying off more than 1,000 people, its staff would be larger than it was a year earlier.

Robinhood: The company, whose app helped bring a new generation of investors to the market, announced that it would reduce headcount by about 23%, or approximately 780 people. An earlier round of layoffs last year cut 9% of its workforce.

November 2022

Twitter: About half of the social media platform's staff of 7,500 was let go after it was acquired by the billionaire CEO of Tesla, Elon Musk.

Lyft: The ride-hailing service said it was cutting 13% of its workforce, almost 700 employees.

Meta: The parent company of Facebook laid off 11,000 people, about 13% of its workforce.

January 2023

Amazon: The e-commerce company said it must cut about 18,000 positions. That's just a fraction of its 1.5 million-strong global workforce.

  • Tech industry job cuts come rapidly and in big numbers
    Operarios montan un cartel publicitario de Google en el Centro de Convenciones de Las Vegas antes de la feria tecnológica CES, el 2 de enero de 2023, en Las Vegas. Credit: AP Foto/John Locher
  • Tech industry job cuts come rapidly and in big numbers
    In this April 30, 2020, file photo, a Lyft ride-hailing vehicle sit sunused in a lot near Empower Field at Mile High in Denver. In just the past month of Jan. 2023, there have been nearly 50,000 job cuts across the technology sector. Large and small tech companies went on a hiring spree in over the past several years due to a demand for their products, software and services surged with millions of people working remotely. Credit: AP Photo/David Zalubowski, File
  • Tech industry job cuts come rapidly and in big numbers
    In this Oct. 20, 2015 file photo is signage outside Google headquarters in Mountain View, Calif. In just the past month of Jan. 2023, there have been nearly 50,000 job cuts across the technology sector. Large and small tech companies went on a hiring spree in over the past several years due to a demand for their products, software and services surged with millions of people working remotely. Credit: AP Photo/Marcio Jose Sanchez, File
  • Tech industry job cuts come rapidly and in big numbers
    A receptionist works in the lobby of the building that houses the Twitter office in New York, Wednesday, Oct. 26, 2022. In just the past month of Jan. 2023, there have been nearly 50,000 job cuts across the technology sector. Large and small tech companies went on a hiring spree in over the past several years due to a demand for their products, software and services surged with millions of people working remotely. Credit: AP Photo/Mary Altaffer, File
  • Tech industry job cuts come rapidly and in big numbers
    Coinbase employee Daniel Huynh holds a celebratory bottle of champagne as he photographs outside the Nasdaq MarketSite, in New York's Times Square, Wednesday, April 14, 2021. In just the past month of Jan. 2023, there have been nearly 50,000 job cuts across the technology sector. Large and small tech companies went on a hiring spree in over the past several years due to a demand for their products, software and services surged with millions of people working remotely. Credit: AP Photo/Richard Drew, File

Salesforce: The company lays off 10% of its workforce, about 8,000 employees.

Coinbase: The cryptocurrency trading platform cuts approximately 20% of its workforce, or about 950 jobs, in a second round of layoffs in less than a year.

Microsoft: The software company said it will cut about 10,000 jobs, almost 5% of its workforce.

Google: The search engine giant becomes the most recent in the industry to say it must adjust, saying 12,000 workers, or about 6% of its workforce, would be let go.

Spotify: The music streaming service is cutting 6% of its global workforce. It did not give a specific number of job losses. Spotify reported in its latest annual report that it had about 6,600 employees, which implies that 400 jobs are being axed.

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