What Are The Tech Companies That Have Retrenched Their Employees This Year?

In recent months, tech companies have made headlines not for their new products and services but for the mass layoffs they are enforcing without warning. From large to small companies, they all cut their staff numbers, announce additional layoffs and sometimes, they do not fully expound why dismissal was necessary.

If you are considering joining the tech industry after graduation or shifting careers, here are some of the popular tech companies that have recently laid off their employees this year:

Meta

Meta Platforms, the owner of Facebook, is the most high-profile tech company this year that shed the most job cuts amounting to 11,000 jobs. Most of the positions affected are in the technology division, business and recruitment. According to the company, the job cuts are caused by various factors, from the continuous revenue declines in recent years, the slowing ad spending in the platform and the competition it is getting from TikTok. They will also be cutting jobs that involve the company’s Portal smart displays, which are used for video-calling, and their smartwatch team.

Twitter

Twitter cut at least 3,700 jobs in late October after new owner Elon Musk took over the company. According to Musk, the layoffs were to help the company lower its operational costs, given its revenue losses each quarter. The job cuts spanned the entire company, with sales, marketing and engineering taking huge losses.

Shopee

Singapore-based e-commerce company Shopee also announced a layoff in its global staff in June due to slow revenue growth and losses, affecting its stability. According to Chris Feng, Shopee’s group president, the layoffs are to enhance the company’s operational efficiency and utilize their resources carefully. The company also closed their Latin American divisions in September. The June layoffs impacted their ShopeePay and ShopeeFood divisions, while the September layoffs affected teams such as their regional operations, engineering and human resources groups.

Shopify

E-commerce giant Shopify announced a 1,000 job layoff in July due to declining online spending worldwide. According to its CEO Tobi Lutke in a memo sent to the employees, he misjudged how long the e-commerce wave would last due to the pandemic. Most of the job layoffs were in their recruiting, sales and support divisions and their teams with duplicate and overspecialized roles.

Microsoft

Microsoft ordered about 1,000 jobs to be laid off from its global workforce in October after the slowest revenue growth for the company in five years was reported. Although the layoff was spread to its international team, most of it was focused on its gaming and government services division.

Will the layoffs continue?

It is hard to say due to the unpredictability of the industry and the global economy. But, if you plan to join the industries and one of these companies, in particular, you should take a closer look at their current status and determine if you can keep your position for a long time. If another layoff is announced, you should also have plans to help you continue your career.

If you think you are facing off a retrenchment, check out these articles to help you:
Freelancer’s Survival Guide to Economy Downturn
6 Golden Tips to Build a Powerful Network Using LinkedIn
What is a Network Letter and How It Can Help You To Build Connections (with samples!)

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One Comment Add yours

  1. Dawn Renée says:

    It seems Elon Musk is getting verbally slammed for the job cuts, but I’ve not heard of the 11k cuts from Meta Platforms. Perhaps the mainstream media puppets are trying to create a mass public opinion. This does give people another consideration when career planning. Glad you shared this.

    Like

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