other tech firms are laying off workers. Let’s be real, none of these companies are teetering on the edge of bankruptcy — in fact, they were recently minting money. That money did not evaporate. And as any person who’s been through job cuts can tell you, it’s generally not about...
With many tech companies laying off workers, cutting employees no longer signaled weakness. Now, executives are looking for more places where they can squeeze more work out of fewer people. We’re going to continue to be careful on what we invest in, and we’re going to continue to invest...
Why Is Twitter Laying off 1 in 12 Employees?Subject line: "A more focused Twitter."In an all-staff email, Twitter co-founder Jack Dorsey -...Warner, Kelsey
Among the tech companies that have announced layoffs this year is Alphabet, the parent of Google. In January, the company announced that it was laying off 12,000 employees. The move came after some of its closest competitors, like Meta Platforms and Microsoft, announced similar layoffs and also...
Why are so many tech companies laying people off right now? The tech industry layoffs are basically an instance of social contagion, in which companies imitate what others are doing. If you look for reasons why companies do layoffs, the reason is that everybody else is doing it....
Companies sometimes take a public relations and/or investor relations hit when laying off hundreds or thousands of employees out of the blue. But when so many others are doing the same, the blowback can be blunted. (Since Wall Street has been supportive of the layoffs, there’s been little...
Now, instead of hiring thousands of people every quarter, the companies are spending billions to build AI technology they believe could one day be worth trillions. Mark Zuckerberg, CEO of Meta, said in a call with analysts last week that his company had to lay off employees and control costs...
However, no organization epitomizes that more than Ubisoft, as the company has been laying off employees in waves throughout 2023. For instance, in May, 60 members of the customer service department were laid off without warning, and a handful of community and production employees were laid ...
When the financial crisis struck, Circuit City began closing stores and laying off its employees, eventually closing due to bankruptcy. CompUSA BRUCE BISPING/Star Tribune // Getty Images CompUSA - Category: Electronics - Year founded: 1984 - Year defunct: 2012 - Lifetime: 28 years CompUSA, a ...
Tech companies are always in the news, usually touting the next big thing. However, the tech news cycle recently hasn't been dominated by the latest gadget or innovation. Instead, layoffs are in the headlines. Inthe last year, more than 70,000 people globally have been laid off by Big ...