Tag Archives: layoffs

2023’s first 15 days see 24K techies fired from jobs: Layoffs.FYI

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The year 2023 began on a bad note for tech workers globally and 91 companies have laid off more than 24,000 tech employees in the first 15 days this month, signaling worse days ahead, said job cuts tracker Layoffs.

About 24,151 tech workers lost their jobs, dominated by companies like Amazon, Salesforce, Coinbase and others, according to layoff tracking website Layoffs.fyi.

Layoffs

layoffs in 2023 so far

Crypto lending exchange Crypto.com last week announced that the company will reduce its global workforce by approximately 20 per cent amid ongoing economic headwinds and unforeseeable industry events.

In India, companies like Ola (which fired 200 employees), voice automated startup Skit.ai, dominated the headlines in January.In December last year, over 17,000 tech employees were shown the door.

According to the website which has been tracking job losses since the start of the pandemic, 153,110 workers were let go in 2022, led by companies like Meta, Twitter, Oracle, Nvidia, Snap, Uber, Spotify, Intel and Salesforce, among others.

The number of layoffs reached its nadir in November, which saw 51,489 tech workers lose their jobs.

Google is another Big Tech company expected to take harsh steps to reduce its headcount in early 2023. Approximately 6 per cent of Google employees could be sacked over “not having enough impact”, according to a report by The Information.

Google layoffs in 2023 could see as many as 11,000 employees lose their jobs. It means that 2023 is going to become the worst year in the history of the tech world. All eyes are now on the Big Tech quarterly results that will come out at the end of this month.

Crypto.com again fires hundreds of employees in 2nd round

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Crypto lending exchange Crypto.com has laid off more employees in the second round and this time, the firing of employees is worse than the previous job cut, as the global crypto meltdown gets deeper.

According to a Decrypt report, the latest round of job cuts has not been announced publicly. During the call, “leadership expressed they had no intention of going public. Top management is unlikely to make an announcement as, after the June layoffs, they claimed that everyone’s job was safe, and that no more layoffs will happen,” the report said, citing sources.

According to the report, the Singapore-based company this time fired people from critical products like exchange, app and wallet. “The company is hiding the fact that they’ve laid off more than 1,000 employees even though they officially announced laying off 260,” a Crypto.com employee had said on LinkedIn.

“They’ve removed the company directory so we can’t see the numbers go down. It’s not good for morale to see that 1/3 of the invitation list on your next meeting is disabled accounts,” the employee had mentioned.

In June, Crypto.com announced it’s laying off around 260 employees, or nearly 5 per cent of its workforce. Its CEO Kris Marszalek said the company’s approach is to stay focused on executing against its roadmap and optimising for profitability.

“That means making difficult and necessary decisions to ensure continued and sustainable growth for the long term by making targeted reductions of approximately 260 or 5 per cent of our corporate workforce,” he had announced.