After 10 years of leading the stock market’s bull run, big tech companies are racing to downsize to adjust to the new reality.
On Wednesday, Microsoft announced it would lay off 10,000 employees, reducing the company’s headcount by less than 5%.
And before that, Amazon began a new round of job cuts, which is expected to end the contracts of more than 18,000 employees and become the largest workforce reduction in the e-commerce giant’s history.
According to a report by CNBC, seen from Al Arabiya.netlayoffs are coming in a time of slowing growth, rising interest rates to fight inflation and fears of a possible economic recession next year.
The following are a few technology companies that plan to reduce their headcount and whose headcount is planned to exceed 64,000+ employees:
Amazon: 18,000 employees, Microsoft: 10,000 employees, Alphabet, the parent company of Google: 230 employees, Crypto.com: 500 employees, Coinbase: 2,000 employees, Salesforce: 7,000 employees Meta Platforms: 11,000 employees, Twitter: 3,700 employees, Lyft: 700 employees, Strip: 1,100 employees, Shopify: 1,000 employees, Netflix: 450 employees, Snap: 1,000 employees, Robin Hood: 1,100 employees, Tesla: 6,000 employees.
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