More job losses in Tech: Amazon and Meta announcement

More job losses in Tech: Amazon and Meta announcement

Global tech behemoths continue to lay off employees despite global macroeconomic uncertainty. This week, Amazon and Meta apparently announced another wave of layoffs to streamline operations.

Amazon acknowledged the layoffs in its advertising group to CNBC. Though the e-commerce juggernaut did not disclose the number of employees affected, the business stated that the fresh round of layoffs would be in its advertising division across the United States and Canada.

Last month, the e-commerce behemoth said that it would cut 9,000 more jobs in the next weeks. Primarily, the changes will affect AWS, PXT, Advertising, and Twitch. The corporation announced the layoff of 18,000 employees in January. Amazon CEO Andy Jassy stated that the overarching idea of this year’s yearly planning was to be “leaner.” Regardless, the company is still investing heavily in crucial long-term consumer experiences.

More layoffs from major tech companies

Meanwhile, Bloomberg announced that Meta Platforms Inc lost 13% or 11,000 positions from its staff. Besides, the platform plans to announce employment layoffs this week. The cutdowns are related to Facebook, WhatsApp, Instagram, and Reality Labs employers.

The news comes only days after Meta CEO Mark Zuckerberg revealed another wave of huge layoffs. This time it affected 10,000 employees, according to the data from the previous month. Zuckerberg said the company’s management would disclose reorganization plans to simplify the organization. They aim to cancel lower-priority initiatives and cut recruiting rates in the coming months. The corporation had 87,000 employees worldwide as of November 8, 2022.

Since the second part of CY2022, the worldwide tech industry announced the layoff of thousands of employees. Cutting costs and streamlining operations seem to be the main reason. Accenture, a US-based IT consulting firm, stated last month that it would lay off 19,000 employees. The company will leave 2.5% of its global workforce unemployed over the next 18 months.

Google just laid off over 12,000 employees in one of the year’s largest layoffs. Sundar Pichai, CEO of Google, stated that the company is now confronted with a different economic reality. Despite periods of rapid development forcing, they will implement large layoffs. Twitter has laid off 50% of its workers and intends to lay off even more. Snap, the parent firm of the social media app Snapchat, laid off 20% of its employees. Hundreds of other IT and non-tech enterprises resorted to mass layoffs due to the global crisis.