In Pics: A look at tech firms laying off their workforce in 2022
In a year marked by global headwinds, several tech firms have slashed their workforce. Let's take a look at some of the companies that are laying off employees.
Meta | Meta, the parent company of Facebook, Instagram and WhatsApp, announced in November that the company will lay off about 11,000 employees, which is around 13 percent of its workforce. In a letter to his employees, CEO Mark Zuckerberg said that he had hired aggressively during the pandemic and anticipated rapid growth after the lockdown ended but his decision did not play out the way he expected.
2/11
Twitter | Soon after Elon Musk took over the control of social media giant Twitter, he fired 50 percent of company's staff and has reportedly laid off at least 4,400 contractual workers. (Image: AFP)
3/11
Cisco | IT company Cisco also joined the list of tech firms slashing their workforce. The company is reportedly laying off over 4,000 employees, or about 5 percent of its workforce in a "rebalancing move" as it is "rightsizing certain businesses".
4/11
Amazon | Following a hiring spree during the pandemic, Amazon is now reportedly planning to lay off 20,000 employees in the coming months across various departments, including distribution center workers, technology staff and corporate executives. In mid-November, NYT reported that Amazon may lay off up to 10,000 workers.
Microsoft | American news website Axios reported in October that tech giant Microsoft has sacked around 1,000 employees across several divisions. (Image: Reuters)
6/11
Adobe | According to reports, software company Adobe has laid off some 100 employees from its sales team. In a statement, the company said that they have "shifted some employees to positions that support critical initiatives" and removed "a small number" of other jobs. (Image: Shutterstock)
7/11
Apple | Technology company Apple has paused hiring for various departments. The move is seen as an escalation of its existing plan to reduce budget heading into next year. (Image: apple.com)
8/11
HP Inc. | The Hewlett-Packard Company in November said it expects to cut up to 6,000 jobs by the end of fiscal year 2025, or about 12 percent of its global workforce at a time when sales of personal computers and laptops are sliding.
Lyft | Ride-hailing firm Lyft in November said it would lay off 13 percent of its workforce to cope with a weakening economy. (Image: Reuters)
10/11
Stripe Inc. | Digital payments firm Stripe announced in November that the company will cut-off its workforce by 14 percent, which will adversely impact more than 1,000 employees at the company. (Image: Shutterstock)
11/11
Netflix | Streaming giant Netflix laid off 300 employees across the company in June. Netflix said in a statement that "we made these adjustments so that our costs are growing in line with our slower revenue growth".
![Cisco | IT company Cisco joins the list of tech firms slashing their workforce. The company is reportedly laying off over 4,000 employees, or about 5 percent of its workforce in a "rebalancing move" as the company is "rightsizing certain businesses".](https://images.moneycontrol.com/static-mcnews/2022/12/CISCO.jpg "Cisco | IT company Cisco joins the list of tech firms slashing their workforce. The company is reportedly laying off over 4,000 employees, or about 5 percent of its workforce in a "rebalancing move" as the company is "rightsizing certain businesses".")
![Adobe | According to the reports, software company Adobe has laid off some 100 employees from its sales team. In a statement, the company said that they have "shifted some employees to positions that support critical initiatives" and removed "a small number" of other jobs. (Image: Shutterstock)](https://images.moneycontrol.com/static-mcnews/2021/11/adobe.jpg "Adobe | According to the reports, software company Adobe has laid off some 100 employees from its sales team. In a statement, the company said that they have "shifted some employees to positions that support critical initiatives" and removed "a small number" of other jobs. (Image: Shutterstock)")
![Netflix | Streaming giant Netflix laid off 300 employees across the company in June. Netflix said in a statement "we made these adjustments so that our costs are growing in line with our slower revenue growth".](https://images.moneycontrol.com/static-mcnews/2022/10/Netflix.jpg "Netflix | Streaming giant Netflix laid off 300 employees across the company in June. Netflix said in a statement "we made these adjustments so that our costs are growing in line with our slower revenue growth".")
