More from The tech industry’s layoffs and hiring freezes: all of the news
After cutting 20 percent of its workforce in October, the telehealth company is now reportedly laying off another 15 percent. The company is under investigation for how it perscribed controlled drugs like Adderall or Xanax.
According to a report from The Financial Times, Meta employees say things are “still a mess” and that “zero work” is getting done because the company hasn’t provided clear guidance surrounding budgets for various projects.
Meanwhile, morale remains low as staffers prep for another round of layoffs as part of CEO Mark Zuckerberg’s plans to cut costs across the company, which the FT says could occur around March.
Yahoo is reportedly laying off around 20 percent of its workforce, including 1,600 people in its ad tech department, according to Axios.
The company reportedly told employees that it’d be cutting 500 positions, according to Reuters. It’s another entry for the sad yet informative big tech layoff tracker.
[Reuters]
Intel has been firing staff — and now, it’s instituting pay cuts, too. But don’t worry, the CEO will continue using cash to offer a dividend, because I guess paying off shareholders is the most important thing.
The latest mass layoff event in tech is happening at PayPal, where CEO Dan Schulman announced:
I’m writing to share the difficult news that we will be reducing our global workforce by approximately 2,000 full time employees, which is about 7% of our total workforce.
If you’re wondering why we’ve seen so many of these and why the 7 percent figure is so familiar, Elizabeth Lopatto can try to explain.
Why are so many tech companies laying people off right now?
With nearly 100,000 employees pushed out into the cold, January was worse than December and November combined. That’s according to the TrueUp tracker; I know some people prefer Layoffs.fyi.
Why so many layoffs following record-breaking profits? I’ll let my colleague Liz tackle that.
Didn’t they just have record-breaking profits?
Alex Heath joins the show’s first segment to talk us through the latest update on Elon’s first few months at Twitter, and then we turn to Apple’s eventless hardware announcement, HomePod and all.
We also dove into the revelations about CNET’s AI-written stories and discussed the recent spate of Big Tech layoffs, although we recorded the show (available in audio form here for your podcast apps) prior to Friday morning’s bombshell news from Google.
The company is in the process of laying off 18,000 people, and carried out a round of cuts today. Washington’s publicly-accessible WARN system lets us know how many people in Amazon’s home state were affected: 1,852 in Seattle, and 448 across the lake in Bellevue, for a total of 2,300.
“Most” of the people affected will be managers, according to Deadline, though apparently the company classifies around half of its employees with that title. In a statement to Deadline, DirecTV said it was “adjusting [its] operations costs” because less people are paying for TV and shows are getting more expensive to secure and distribute.
Following a report from The Wall Street Journal, Amazon CEO Andy Jassy is notifying employees that the company’s ongoing layoffs will affect 18,000 workers.
It’s the first time we’ve gotten a concrete number from Amazon since The New York Times reported in November that the company planned on cutting 10,000 jobs.
