Following the announcement of Amazon that they will be laying off additional 8000 workers, people around the world are now searching for when will Google start layoffs.
2022 was a disastrous year for thousands of workers employed in the information technology sector as a large number of employees lost jobs in the layoffs implemented by multinational technology corporations such as Meta, Amazon, and Microsoft. Reports suggest that nearly 153,110 tech employees got laid off in 2022 as tech companies decide to cut costs and reduce expenses.
Google layoffs in 2022 and 2023
The California-based multifunctional company, Google did not lay off any employees in 2022 even as revenue took a hit. As businesses decided to reduce expenditure on online advertisement, the revenue of Google from advertisements and other operations took a serious hit.
There have been rumors in November 2022 that Google might be preparing to lay off nearly 6 percent of its entire workforce. Despite rumors, the ending months of 2022 passed away without witnessing any layoffs by the tech giant.
News reports recommend that the company will start implementing job cuts in the upcoming months. Workers are already concerned about the newly implemented performance review system which might be the first step toward layoffs.
In 2023, the tech world can expect waves of layoffs from Google, which will approximately leave 11000 people jobless.
Meta layoffs in 2022 and future
Meta Platforms Inc headed by Mark Zuckerberg suffered huge losses in 2022 as increasing competition and volatile macroeconomics reduced revenue from advertisements. Due to financial difficulties, the social media giant which owns Facebook, Instagram, and Whatsapplaid off 11000 employees in 2022, which makes up to 13 percent of its workforce. Meta Platforms had a total workforce of 87,300 employees pre-layoff.
Meta suffered a 63 percent decrease in share prices in 2022. The social media company also suffered a year-to-year decline in users for the first since in the past 18 years. Even though the company has not announced any plans for layoffs in 2023, the market expects another round of job cuts and a hiring freeze.
Layoffs at Amazon
The E-commerce giant founded by Jeff Bezoslaid off 10000 employees in 2022 as revenue from sales and operations tumbled during the past 12 months. High inflation in the major economies and stricter monetary policies followed by central banks across the world put pressure on consumers to reallocate their money.
Consumers in Europe and the Americas spent less on e-commerce platforms such as Amazon which had deep impacts on revenue. The company also announced in 2022 that it will be shutting down some departments and businesses which were not performing up to the mark.
Amazon began 2023 by announcing additional 8000 jobs cuts taking the overall number to 18000 laid-off workers. The latest bouts of layoffs are one of the biggest in the history of the e-commerce giant.
