US Companies With Job Cuts In and 2023 and 2024

A layoff can be a permanent termination of someone’s employment (usually for cost-saving reasons), or it can be temporary because there are not enough jobs to demonstrate a full workforce. Layoffs at tech companies are often permanent.

Mass layoffs are when a company lays off a large number of employees in a short period of time, usually due to economic conditions.

Technology company layoffs will increase in 2022 and 2023.

Some companies, especially in the e-commerce industry, nearly doubled their headcount to meet consumer demand during stay-at-home orders during the COVID-19 pandemic, but are now finding that in the current economic climate, They are already overcrowded.

Large tech employers, e.g. salesperson and Google parents letter Noting that the recent layoffs follow several years of rapid hiring driven by rapid growth—some companies nearly doubled their headcount between 2019 and 2022. Some large technology companies that have laid off employees have also cited falling stock prices, slowing sales and concerns about an economic recession as reasons for the layoffs.

Amazon The largest number of layoffs will be in 2023, with 16,000 layoffs.

The layoff period is letter,parent company Googlea total of about 12,000. MicrosoftA total of about 10,000 layoffs will be laid off. Facebook parents Yuanof layoffs. together with salespersonThe tech companies have made the largest layoffs in the past two years, cutting tens of thousands of jobs in total.

While these numbers are shocking, the total number of layoffs at these companies as of early April 2023 Accounting for only 8% of the number of new employees hired during the epidemic.

Many other venture-backed tech startups have also cut jobs, noted Venture capital financing slows down Falling valuations for startups are a factor in their decisions to lay off employees.

Signs that may indicate a company is more likely to make layoffs include:

1. Hiring, salary or promotion freeze: Payroll is the most important cost for most technology companies, and is often the first factor company leaders try to control. Companies can do this by suspending hiring for all but the most mission-critical positions and freezing promotions and pay increases for existing employees.
2. Danger signs in company financial performance: A company that is struggling with declining revenue or profits, or that is simply not growing at the pace expected, is more likely to resort to layoffs and other cost-cutting measures. Unfortunately, many employees at private startups don’t know their employer’s detailed financial information.
3. Reorganize a team or department: Companies may merge or consolidate teams to streamline operations and cut costs. Layoffs resulting from these restructuring measures often result in layoffs. Companies may also increase their reliance on outsourced teams or contractors.
4. Increase internal communication: Frequent communication between management and employees about the company’s financial challenges, workforce optimization, the need to reduce expenses, or the need to increase productivity may indicate that layoffs are being considered. Venture-backed startups try to manage their cash runway — how long they can continue operating at current cash burn rates without new capital — and may also warn employees of the need to reduce cash burn.
5. Unexpected changes in company policy: A company that suddenly requires employees working remotely to return to physical offices may be considering layoffs. Often, such policies are used as grounds for firing workers who fail to comply with the new regulations. Likewise, an unexpected organizational review or audit of employee performance outside of regular business reviews may be a precursor to layoffs.
6. Reduction in workload or cancellation of projects: Other signs that a company is experiencing financial difficulties that could lead to layoffs include a significant reduction in employee workload or the cancellation or postponement of major projects.
7. Other cost-cutting measures: Before taking larger cost-cutting measures such as layoffs, companies often suspend or eliminate perks and benefits, including employee travel, meals or education or health allowances.

About 200,000 U.S. tech employees will be laid off in 2023, according to our Tech Layoffs Tracker report. that’s more than twice 93,000 U.S. tech employees are expected to be laid off in 2022.

Many companies have seen layoffs in their technology departments.

Mass layoffs at big tech giants Is a software engineer. Startups often prefer to retain engineers and tend to lay off talent, recruiting, marketing and other departments.

Google Positions are being cut from sales, recruiting, product and engineering teams. Amazon The layoffs include their jobs AWS Cloud division, on its social video platform twitchand its advertising arm. Yuan CEO Mark Zuckerberg It said the company’s recruiting department would be among the first to see layoffs.

Follow us for all our tech layoffs news here And use the layoff tracker above to track which companies are cutting jobs.

While not updated daily, this Crunchbase Tech Layoff Tracker is updated weekly, if not more frequently, with the latest layoffs from U.S. tech employers.

Despite layoffs in the industry, many tech companies continue to hire for open positions. Learn more about Crunchbase’s “Actively Recruiting” filter And how to find companies with multiple job openings.

Crunchbase News also highlights recently funded startups that are actively recruiting in our weekly recruiting feature. You can find all our news related to the job market here.