Job cuts: Amazon, Intel and five other companies that have announced thousands of job cuts

Tech companies have been in takedown mode of late. The likes of Amazon, Meta, Intel, Cisco, Twitter have all announced job cuts that have resulted in thousands losing their jobs worldwide. Many reasons have been cited as reasons for layoffs that have occurred across companies. Many companies have also announced hiring for the next few months. Here we look at companies that have announced thousands of job cuts

Meta 11000 jobs cut

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Meta: 11,000 job cuts

In one of the largest employee layoffs, Meta has laid off more than 11,000 workers, around 13 percent of the total workforce. CEO Mark Zuckerberg says that the reason he had to let go of many of these employees is because of the uncertainty about the future as the pressure increases during the epidemic. In addition, the company has also extended the hiring process until the first quarter of 2023.

Amazon Close to 10000 job cuts

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Amazon: Nearly 10,000 jobs cut

Amazon has reportedly laid off 10,000 employees as part of its mass layoff process. Amazon CEO Andy Jassy sent a letter to all employees informing them of the layoffs. Jassy said the company’s annual review is tough — which led to the announcement of layoffs — and the company has been hiring rapidly in the past few years. He added that the job cuts at Amazon will continue until early 2023. The job cuts should affect retail workers, human resources, and equipment.

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Intel Thousands of jobs cut

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Intel: Thousands of jobs cut

Intel CEO Pat Gelsinger, during the company’s Q3 earnings call, said that we are responding to the current environment by aggressively reducing costs. The company is cutting jobs and reducing spending on new plants in an effort to save $3 billion next year. The chipmaker claims that the reduction in headcount is a response to a decline in the company’s consumer chips, caused by the PC market’s decline. As reported by Bloomberg this release will affect the sales and marketing team of Intel.

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Cisco More than 4000 job cuts

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Cisco: More than 4,000 job cuts

According to an online report, Cisco is also laying off more than 4,000 employees, which accounts for 5% of its workforce. The job cuts come after the company reported its highest quarterly revenue in its history during the first quarter of fiscal 2023. The company has yet to release details. comments about termination of employment. However, Cisco president and CEO Chuck Robbins said, “We’re not going to get into a lot of details here until we can talk to them. I want to say that we’re to do is legal for certain businesses.”

Seagate

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Seagate

Seagate Technology announced last month that it plans to cut 8% of its global workforce, or about 3,000 employees, citing business uncertainty and reduced demand for his place. Customers are sitting on a pile of additional inventory, making decisions and weighing on Seagate’s financial performance, CEO Dave Mosley said. That should be cut. “We have acted quickly and decisively to respond to current economic conditions and improve long-term results,” he said.

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Salesforce About 2500 jobs cut

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Salesforce: About 2,500 jobs cut

US-based enterprise software company Salesforce also announced job cuts earlier this month. “Our sales process creates a liability. Unfortunately, that can put some out of business, and we support them through change,” the company said. said in a statement to CNBC.

Twitter Special mentions

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Twitter (Special mention)

Twitter has laid off almost half of its employees. The move follows a week of turmoil and uncertainty about the company’s future under new owner Elon Musk, the world’s richest man, who announced on on Friday that the service has experienced “tremendous revenue” from the publisher. “Unfortunately there is no choice when the company is losing more than $4M/day,” Musk tweeted of the layoff, adding that everyone involved has been given three months of severance pay.

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