The tech industry is struggling with a challenging economic landscape. With the ongoing impact of the COVID-19 pandemic, bulk hiring and strategic missteps, leading to a surge in job cuts in 2023. While layoffs were there in 2022, the trend has become more stronger this year. Here’s a comprehensive overview of the significant layoffs across major tech companies:
November Tech Layoffs 2023
Ubisoft Montreal
The main internal development team of Ubisoft is based in its Montreal branch, where 98 employees were laid off at the beginning of November. Jobs in business administration and IT were most affected by the cuts. Over the previous 12 months, the corporation recorded over 1,000 employment cutbacks, including voluntary departures.
Cruise
The autonomous car division of General Motors, Cruise, announced plans to fire a number of staff members in November. The announcement came after a pedestrian collision that resulted in the recall of all 950 robotaxis owned by Cruise. It is not yet known how many employees are impacted or in what jobs.
Snap
In November, Snap made news when company announced the firing of twenty product managers, citing expedited decision-making as the reason behind the action.
Amazon
180 positions were eliminated from Amazon’s gaming section, including the team responsible for the Twitch channel Crown, which the company sponsors. Additionally, a battle for supremacy in the AI space was indicated in November when Amazon let go of several hundred workers from its Alexa division.
October Tech Layoffs 2023
In its second round of layoffs for the year, LinkedIn let go of around 668 workers from various departments, including engineering, product, talent, and finance. The move was part of the company’s ongoing efforts to streamline operations.
September Tech Layoffs 2023
Epic Games
Epic Games faced financial challenges, leading to a significant layoff of 16 percent of its workforce, amounting to about 830 employees. CEO Tim Sweeney attributed the decision to address overspending and ensure the company’s financial sustainability.
Roku
Roku experienced its second round of layoffs in 2023, with 300 employees leaving the company. The cutbacks aimed at reducing costs included consolidating office space and trimming content offerings on its platform.
July Tech Layoffs 2023
Google faced controversy in July when contracting partner Accenture laid off 80 Help subcontractors who had recently joined the Alphabet Workers Union-CWA. The move raised accusations of retaliation against labor organizers.
CD Projekt Red
CD Projekt Red, the developer of Cyberpunk 2077, announced layoffs affecting about 100 employees, citing the need to reorganize and streamline operations for its expanding product roadmap.
June Tech Layoffs 2023
Spotify
Spotify, a major player in the music streaming industry, laid off 200 employees in its podcast unit in June. The restructuring aimed at optimizing resources and consolidating production teams to enhance the platform’s podcast offerings.
GrubHub
GrubHub, facing competitive pressures, laid off 15 percent of its workforce, approximately 400 staff, in June. The move followed the departure of CEO Adam DeWitt.
Embracer Group
Game publishing giant Embracer Group initiated layoffs in June as part of a broader restructuring effort focused on cost-cutting. The extent of the layoffs was not specified, but it was expected to continue through March.
May Tech Layoffs 2023
Shopify
Shopify, a key player in e-commerce, laid off 20 percent of its workforce in May, amounting to a significant reduction in staff. The company cited the need to refocus on its core mission and enhance efficiency.
Polestar
Polestar, a spinoff brand of Volvo, announced a 10 percent reduction in its workforce in May, attributing the decision to delays in the production of its first electric SUV.
SoundCloud
SoundCloud, a popular streaming audio service, implemented a second round of layoffs in May, shedding 8 percent of its staff. The goal was to achieve profitability by the fourth quarter of the year.
April Tech Layoffs 2023
Lyft
In April, Lyft, the ridesharing company, carried out further layoffs, letting go of 26 percent of its workforce, amounting to 1,072 employees. The decision followed an executive shuffle and aimed to streamline business operations.
Dropbox
Cloud storage provider Dropbox announced the layoff of 500 employees, approximately 16 percent of its team, in April. The move was attributed to a combination of economic challenges, business maturation, and a strategic shift towards AI.
March Tech Layoffs 2023
Lucid Motors
Luxury electric vehicle maker Lucid Motors initiated layoffs in March, affecting 18 percent of its workforce, or about 1,300 people. The decision aimed to address evolving business needs and improve productivity.
Meta (Facebook)
Meta, the parent company of Facebook, continued its workforce reduction in March, laying off another 10,000 employees. The restructuring aimed to streamline operations and reduce costs across various teams.
Rivian
Rivian, a prominent electric vehicle brand, laid off 840 employees, constituting 6 percent of its workforce, in February. The company aimed to refocus on high-impact aspects of its business to achieve profitability.
Zoom
Zoom, a key player in remote communication, laid off approximately 1,300 employees, or 15 percent of its workforce, in February. The move was deemed necessary to adapt to a changing economic landscape.
Yahoo
Yahoo announced layoffs affecting over 20 percent of its workforce in February, totaling more than 1,600 people. The restructuring was framed as a shift in the advertising technology unit’s focus.
Dell
Dell, a major PC manufacturer, laid off 5 percent of its workforce, about 6,650 employees, in early February. The decision followed a challenging fourth quarter marked by a significant decline in computer shipments.
Deliveroo
Deliveroo, facing economic challenges, laid off approximately 350 workers, or 9 percent of its workforce, in February. The move aimed to address the aftermath of rapid hiring during the pandemic-induced growth.
DocuSign
DocuSign, a provider of electronic signature solutions, announced the layoff of 10 percent of its workforce in mid-February. The decision was made in response to the impact of a difficult economic climate.
GitLab
GitLab, a DevOps platform, laid off 7 percent of its employees, approximately 114 people, in February. The move was driven by a more conservative approach adopted by customers in the face of economic challenges.
GoDaddy
GoDaddy, a web service provider, laid off 8 percent of its workforce, over 500 employees, in February. The decision aimed to navigate an uncertain economic environment and integrate acquisitions more effectively.
Twilio
Twilio, a cloud communications brand, implemented layoffs in mid-February, affecting 17 percent of its staff, or roughly 1,500 people. The move was a response to ongoing challenges in the business environment.
January Tech Layoffs 2023
Alphabet (Google)
Alphabet, Google’s parent company, initiated layoffs in late January, affecting 12,000 employees. The move was part of a broader restructuring effort to focus on core businesses.
Amazon
Amazon expanded its layoffs in early January, eliminating 18,000 jobs, with a focus on retail and recruiting teams. The decision reflected both an uncertain economy and a response to rapid hiring in previous years.
Coinbase
Coinbase, a major cryptocurrency exchange, laid off 950 employees in mid-January, representing about a fifth of its workforce. The move was driven by the need to reduce operating expenses during a challenging period for the crypto market.
IBM
IBM announced the layoff of 3,900 jobs in late January, following the divestiture of its AI-driven Watson Health business and infrastructure management division. The move was part of a strategic shift toward cloud computing.
Microsoft
Microsoft initiated its second-largest wave of layoffs, cutting 10,000 jobs between mid-January and the end of March. The decision aimed to address reduced customer spending during the pandemic recovery and included significant cuts in specific divisions.
PayPal
PayPal announced the layoff of 2,000 employees, constituting 7 percent of its workforce, at the end of January. The move was intended to control costs and prioritize core strategic priorities.
Salesforce
Salesforce set the tone for 2023 by announcing the layoff of 8,000 employees, or about 10 percent of its workforce, in early January. The decision followed aggressive hiring during the pandemic boom, which proved unsustainable during economic decline.
SAP
SAP, a business software powerhouse, laid off 2,800 staff in early 2023, citing targeted restructuring to ensure business health. The move followed a 68 percent drop in profit at the end of 2022.
Spotify
Spotify announced the layoff of 6 percent of its workforce, approximately 9,800 employees, in late January. The restructuring coincided with the departure of content chief Dawn Ostroff and aimed to align resources with revenue.
Wayfair
Wayfair, a major online retailer, laid off 1,750 team members, or 10 percent of its global headcount, in late January. The move included corporate staff cuts and aimed to eliminate management layers for increased efficiency.
The tech industry’s landscape is evolving rapidly, with companies making strategic adjustments in response to economic challenges and shifting market dynamics. As the year progresses, the industry will continue to witness changes in workforce structures and business strategies. Stay tuned for further updates on this unfolding narrative.