As firings become a wildfire in tech industry, here’s a look at companies that have implemented job cuts and issues impacting Big Tech
November 18, 2022 / 04:46 PM IST
Every week seems to bring a new round of layoffs in the tech sector. What started as a hiring freeze in some companies at the beginning of the year is now a full-blown crisis. Major tech companies that went on a hiring spree during the coronavirus pandemic are bleeding thousands of jobs in the face of uncertain economic conditions. (Image: News18 Creative) 
Meta CEO Mark Zuckerberg announced on November 9 that the company was laying off about 11,000 employees. (Image: News18 Creative) 
Twitter announced on November 4 to cut half its global headcount or about 3,700 employees a week after Elon Musk took over. (Image: News18 Creative) 
In October, Microsoft has announced layoffs across multiple divisions. (Image: News18 Creative)
= 768 && (adKey.indexOf(“Moneycontrol”) != -1) && (adKey.indexOf(“Moneycontrol_Mobile_WAP”) = 768 && (adKey.indexOf(“MC_ENG_DESKTOP”) != -1 ) && (adKey.indexOf(“MC_ENG_PWA”) < 0) ){ setTimeout(function() {googletag.cmd.push(function() { googletag.display("MC_ENG_DESKTOP/MC_ENG_PHOTOGALLERY/MC_ENG_PHOTOGALLERY_AS/MC_ENG_ROS_PHT_AS_MID_728") });}, 2000); }if (width
= 768 && (adKey.indexOf(“Moneycontrol”) != -1) && (adKey.indexOf(“Moneycontrol_Mobile_WAP”) = 768 && (adKey.indexOf(“MC_ENG_DESKTOP”) != -1 ) && (adKey.indexOf(“MC_ENG_PWA”) < 0) ){ setTimeout(function() {googletag.cmd.push(function() { googletag.display("MC_ENG_PWA/MC_ENG_PWA_PHOTOGALLERY/MC_ENG_PWA_PHOTOGALLERY_AS/MC_ENG_PWA_ROS_PHT_AS_ATF_300") });}, 2000); }if (width
Amazon plans to lay off approximately 10,000 people in corporate and technology jobs starting November. (Image: News18 Creative) 
The tech giant Apple has signaled caution, with chief executive Tim Cook saying the firm was “still hiring” but only on a “deliberate basis”. (Image: News18 Creative) 
According to Reuters, production and streaming company Walt Disney has announced a hiring freeze and job cuts in its quest to make Disney+ streaming service profitable. (Image: News18 Creative) 
Lyft and Netflix are among other companies to have cut jobs. (Image: News18 Creative)
= 768 && (adKey.indexOf(“Moneycontrol”) != -1) && (adKey.indexOf(“Moneycontrol_Mobile_WAP”) = 768 && (adKey.indexOf(“MC_ENG_DESKTOP”) != -1 ) && (adKey.indexOf(“MC_ENG_PWA”) < 0) ){ setTimeout(function() {googletag.cmd.push(function() { googletag.display("MC_ENG_DESKTOP/MC_ENG_PHOTOGALLERY/MC_ENG_PHOTOGALLERY_AS/MC_ENG_ROS_PHT_AS_BTF_728") });}, 2000); }if (width
= 768 && (adKey.indexOf(“Moneycontrol”) != -1) && (adKey.indexOf(“Moneycontrol_Mobile_WAP”) = 768 && (adKey.indexOf(“MC_ENG_DESKTOP”) != -1 ) && (adKey.indexOf(“MC_ENG_PWA”) < 0) ){ setTimeout(function() {googletag.cmd.push(function() { googletag.display("MC_ENG_PWA/MC_ENG_PWA_PHOTOGALLERY/MC_ENG_PWA_PHOTOGALLERY_AS/MC_ENG_PWA_ROS_PHT_AS_BTF_300") });}, 2000); }if (width
The tech industry has seen a string of layoffs in 2022 in the face of uncertain economic conditions. (Image: News18 Creative) 
Many of these companies went on a hiring spree during the pandemic. A global recession, exacerbated by the Russia-Ukraine war and inflation, has increased pressure on the tech industry. (Image: News18 Creative) 
FAANG companies’ m-cap in 2022. (Image: News18 Creative) 
It’s important to remember that a pink slip in mass layoffs isn’t the employee’s fault. Layoffs occur because the organisation wants to downsize. (Image: News18 Creative)
= 768 && (adKey.indexOf(“Moneycontrol”) != -1) && (adKey.indexOf(“Moneycontrol_Mobile_WAP”) = 768 && (adKey.indexOf(“MC_ENG_DESKTOP”) != -1 ) && (adKey.indexOf(“MC_ENG_PWA”) < 0) ){ setTimeout(function() {googletag.cmd.push(function() { googletag.display("MC_ENG_DESKTOP/MC_ENG_PHOTOGALLERY/MC_ENG_PHOTOGALLERY_AS/MC_ENG_ROS_PHT_AS_ATF_300") });}, 2000); }if (width
{ $.ajax({ type: ‘post’, url: `${mainUrl}news/rhs-display-data/`, data: { video_discovery_widget : true }, success:function(res){ try { if (res.video_discovery_widget.length > 0) { let createdHtml = ”; res.video_discovery_widget.map((item, index) => { if (item.article_id && index <= 5 && item.unrank == 0) { let url = ''; if (item.custom_url && item.custom_url != '') { url = item.custom_url } else{ url = `${mainUrl}${item.weburl}` } createdHtml += `
Watch
${createdHtml} `); $(‘.video_on_hp_widget’).each(function(num, elem) { elem = $(elem); elem.not(‘.slick-initialized’).slick({ autoplay: true, autoplaySpeed: 4000, centerMode: true, arrows: true, dots: true, infinite: true, centerPadding: ’48px’, slidesToShow: 1, slidesToScroll: 1 }); }); } } catch (error) { console.log(‘Error in video’, error); } } }) }, 8000); });]]>
= 768 && (adKey.indexOf(“Moneycontrol”) != -1) && (adKey.indexOf(“Moneycontrol_Mobile_WAP”) = 768 && (adKey.indexOf(“MC_ENG_DESKTOP”) != -1 ) && (adKey.indexOf(“MC_ENG_PWA”) < 0) ){ setTimeout(function() {googletag.cmd.push(function() { googletag.display("MC_ENG_DESKTOP/MC_ENG_PHOTOGALLERY/MC_ENG_PHOTOGALLERY_AS/MC_ENG_ROS_PHT_AS_BTF_300") });}, 2000); }if (width
Trending news
{ $.ajax({ type: ‘post’, url: `${mainUrl}news/rhs-display-data/`, data: { must_watch_article : true, stay_updated: article_id }, success:function(res){ try { if (res.must_watch_article.length > 0) { $(“.video-widget-ajax”).html(`
Must Listen ]]>
`); } if (res.stay_updated) { $(“.stay-updated-ajax”).html(res.stay_updated); } } catch (error) { console.log(‘Error in video’, error); } } }) }, 8000); })
