It begins: The layofffs and the recession

Microsoft says it will let go 10,000 employees, to take $1.2B charge in Q2

  • On Nov. 9, Mark Zuckerberg told to employees that Meta would be reducing its staff by approximately 13%. That amounts to more than 11,000 employees, and the company will be extending its hiring freeze through next year’s first quarter.2

  • Peleton has had three separate rounds of layoffs this year, the first on Feb. 8, followed by another in July, another on Aug. 12, and the most recent on Oct. 6. They totaled more than 4,600 employees.

  • On Nov. 4, a week after Elon Musk completed his purchase of Twitter, the social networking company said it would cut 50% of its staff, or 3,700 people.

  • On Oct. 26, Seagate Technology announced a restructuring plan that would include reducing its workforce by about 8%, or 3,000 employees.

  • Carvana let go of 12% of its workforce, or 2,500 people, on May 10.

  • Gopuff, a consumer goods and food delivery company, had four rounds of layoffs this year. The first two came on Jan. 26 and March 29 and accounted for 100 and 450 employees, respectively. The largest, at 1,500 employees, took place on July 12, followed by another 250 on Oct. 19.

  • Snap let go of 20% of its workforce on Aug. 31, cutting 1,280 employees.

  • Cryptocurrency exchange platform operator Coinbase laid off 18% of its staff, or 1,100 people, on June 14.

  • Stripe, a financial services and software-as-a-service company, reduced its workforce twice this year. The first was minor, at just 50 people on Aug. 19, whereas it laid off 14% of its staff, or 1,000 people, on Nov. 3.

  • Microsoft has made several job cuts this year, though the exact numbers are difficult to track. On July 12, per CNBC, the technology corporation announced it would be laying off less than 1% of its workforce. On Oct. 17, it cut 1,000 jobs, according to Axios.

    Amazon will begin a fresh wave of job cuts on Wednesday.
    Earlier this month, CEO Andy Jassy said in a memo the company was looking to eliminate as many as 18,000 roles.
    The company already began laying off employees in November.