Layoffs in 2022: The year tech firms, workers would rather forget

Facebook parent company Meta had let go around 13 per cent of its workforce, which is around 11,000 people.

In a letter to his employees, Mark Zuckerberg explained how he had hired aggressively during the pandemic and had anticipated quick growth even after the pandemic ended. Neither happened.

While the Twitter-Elon Musk saga is on, the company has been in the headlines for the whole year. Soon after the social media platform got its new boss, the company laid off nearly 4,800 as per reports.

According to reports, Amazon is planning to fire 20,000 employees. The top management will also be included in these layoffs. Amazon’s CEO announced that they would continue the process of a layoff and that the employees who will be impacted will be informed after everything is assessed by the company.

Probably one of the first big tech giants to announce the jobs cuts, Microsoft reportedly laid off nearly 1,000 workers across multiple divisions.

The move came amid tech companies expecting an economic downturn worldwide in demand for tablets and PCs.

According to reports, software company Adobe laid off some 100 employees from its sales team.

In a statement, the company said, "shifted some employees to positions that support critical initiatives and removed a small number of other jobs."

Apple too has put a freeze on new hiring in certain sections of the company.

According to a report in Business Insider, Apple has "paused almost all hiring" due to economic concerns.

Apple has reportedly asserted that it doesn’t have a “budget for additional headcount for company positions in the coming year.”

The computer and printer maker Hewlett-Packard (HP) has said that it would lay off layoff 10 percent, or nearly 6,000 of its global workforce over the next three years.

The company's decision came in at a time when sales of personal computers and laptops are sliding.

The networking major Cisco has recently started laying off 5 percent of its workforce, or more than 4,000 employees.

According to reports, the company called the layoffs a "rebalancing" act while "rightsizing certain businesses".

Last month, Qualcomm announced that it is freezing hiring due to a faster-than-feared decline in demand for phones, which use its chips.

According to the reports, Intel started the layoffs in California with at least 201 employees as "part of a broader cost-cutting effort. During the second-quarter earnings call, the company's CEO Pat Gelsinger said, "“We are also lowering core expenses in the calendar year 2022 and will look to take additional actions in the second half of the year.”

Lyft

According to the reports, the parent company of photo-sharing platform Snapchat, Snap Inc, plans to slash its workforce by 20 percent. The company has more than 6,400 employees which means that over 1,300 could be laid off.

Do you think the situation will improve in 2023 or more companies will join the jobs cut race?