Google employees are the latest to be hit by a wave of layoffs at major US tech and finance companies. Companies are cutting thousands of employees in total. See the full list of layoffs so far in 2023. Something is loading.
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A wave of layoffs that hit dozens of American companies towards the end of 2022 shows no signs of abating in 2023.
Google is the latest tech giant to cut thousands of workers. In a memo sent to employees on Friday, the company said it would lay off about 12,000 employees, or 6% of its global workforce. Sundar Pichai, CEO of Google’s parent company Alphabet, wrote in the memo that the cuts come after a “rigorous review” of the business and “will cut across Alphabet, product areas, functions, tiers and regions.” .
“Over the past two years, we’ve had periods of dramatic growth,” Pichai said. “To match and fuel that growth, we hired for a different economic reality than we face today.”
However, Google isn’t the first big company to make major cuts in the new year: Other tech companies, including Amazon and Salesforce, and financial giants, like Goldman Sachs, have announced layoffs. massive in the first weeks of 2023 against a backdrop of continued economic slowdown and sluggish sales.
The downsizing followed deep cuts at companies such as Twitter and Meta late last year.
The layoffs have primarily hit the tech sector, which is now hemorrhaging employees at a faster rate than at any time during the pandemic, the Wall Street Journal reported. According to data cited by the Journal of Layoffs.fyi, a site tracking layoffs since the start of the pandemic, tech companies cut more than 150,000 in 2022 alone – down from 80,000 in 2020 and 15,000 in 2021 .
Here are the notable examples so far in 2023: