From Microsoft to Amazon, layoffs dominate tech world in 2023

Microsoft to Amazon, layoffs dominate tech world in 2023

The tech industry has seen a surge in job cuts in early 2023 as companies prepare for a potential recession and slowing sales growth. Microsoft, one of the biggest names in the industry, announced plans to cut thousands of jobs in its human resources and engineering divisions. The exact number of layoffs has not been disclosed, but sources suggest it will be significantly larger than in previous rounds at Microsoft.

Amazon, another major player in the tech industry, also announced plans to cut 18,000 jobs among its corporate ranks. CEO Andy Jassy stated that these changes will help the company pursue long-term opportunities with a stronger cost structure. Amazon is not alone in its decision to trim its workforce, as other companies such as Vimeo, ShareChat, Cisco Systems, Intel, Meta Platforms, Qualcomm, and Salesforce have also announced layoffs.

According to a report, Amazon, Vimeo, and Salesforce were among the companies that sacked a total of 30,611 people in the first six days of January 2023. Google-backed ShareChat, for example, announced plans to lay off around 20% of its employees, citing the growing consensus that the current global economic downturn will be a sustained one. Salesforce, a major software company, also announced plans to lay off about 10% of its employees and close some offices as part of its restructuring plan.

Other companies such as Twitter, Meta, HP, Byju's, Academy, Goldman Sachs, Moran Stanley, Intel, Johnson & Johnson, and Snapchat have also announced layoffs. These job cuts come as a reminder of the ongoing shift towards automation and artificial intelligence in the tech industry, as well as the economic downturn caused by the COVID-19 pandemic. The impact on employees and the industry as a whole will be significant, and it remains to be seen how these companies will address the long-term consequences of these layoffs.

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