Job Cuts: Microsoft, Intel, Snap and others who have laid off employees

Posted by Admin November 7, 2022 Jobs

Photo : iStock

Job cuts have been taking place in the entire world and not just in India. As per report by Gadgets now they have mentioned that according to Crunchbase News Italy, as on October 2022 there have been more than 45, 000 workers have been announced for job cuts so far by the top tech companies in US.

As per the report, Microsoft, Intel, Snap have been amongst the tech companies to lay off their employees and the list of companies include – Seagate, Intel, Microsoft, Twitter, Coinbase, Netflix, Snap, Shopify, Lyft, Stripe and Opendoor. It mentioned that during the pandemic, there are many companies from the list who saw an unpredictable growth due to online spending and CEOs also said that they have over hired.

Seagate, hard drive maker technology had announced to cut 8 percent of its global workforce or about 3,000 employees mentioning the declining demand of its part and economic uncertainty. Intel is likewise cutting jobs and spend on new plans to save 3 billion dollars next year.

Another company Microsoft announced the let go of additional workers in the company and cut less than 1 percent of its employees and Twitter had laid off half of its employees this year. Coinbase cut jobs of approx. 1,100 employees. Netflix, the online streaming platforms cut jobs of around 500 employees whereas Snap Inc and Shopify cut jobs of around 1000 workers. Lyft cut around 700 employees or 13 percent of its workforce was laid off.

The last two companies – Stripe and Opendoor cut jobs of around 8000 people and around 550 people in their workforce. This year saw massive layoffs and job cuts in companies in India and around the world