As per a Bloomberg report, Spotify Technology is planning to reduce its headcount in an effort to cut costs. Spotify might announce the layoffs as early as this week, the report noted
The tech giant announced a reduction in headcount via an email from CEO Satya Nadella last week. The email noted that 10,000 Microsoft employees would be terminated
Google's parent company, Alphabet Inc, announced on Friday that the company would terminate 12,000 employees. The announcement was made in a staff memo by CEO Sundar Pichai
The tech and e-commerce giant had first announced 10,000 job cuts in November 2022 but in January, Amazon CEO Andy Jassy said that 18,000 roles would be impacted
After buying the microblogging website Twitter, billionaire Elon Musk terminated 3,700 Twitter employees, almost half the staffers at the company
Facebook’s parent company Meta terminated 11,000 employees in November 2022
Networking giant Cisco announced that it would terminate 4,000 employees to deal with the economic slowdown
Salesforce Inc announced it would lay off 10 per cent of its 70,000 plus employees as part of a restructuring exercise
Dan Ives, the MD of Wedbush Securities, told Business Today, “Big Tech has been having fun up to this point but clearly they are going to see significant cost cuts, head count cuts as well.”
Dan Ives added, “I think over the next six to nine months as the recession is at the doorstep, time will get tough. I think this dark storm will pass but you cannot think of these tech companies as isolated from this. I think there'll be a massive rip in them as well.”