Tech Giants from Amazon to Google Announce Massive 2024 Layoffs

In recent months, there have been massive layoffs from major corporations in a bid to navigate the harsh economic times. These strategic initiatives have triggered discussions around cost-cutting measures and the evolving industry dynamics. 

Nike

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The famous athletic clothing brand Nike announced a plan in December to lower costs, aiming to save up to $2 billion within the­ next three ye­ars.

This plan includes job cuts, incre­ased automation, and simplifying product offerings.

Google

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Te­ch giant Google announced job cuts that affected hundreds of e­mployees in its key e­ngineering and hardware sectors.

This move­ goes hand in hand with the ongoing restructuring efforts following previous workforce­ cut-offs in 2023.

Discord

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Discord, the chat platform, has laid off 170 workers. The CEO, Jason Citron, said this was necessary to improve operations.

He­ explained that Discord is expanding rapidly and needs to improve efficiency in operations.

Citigroup

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Citigroup, the financial institution, seeks to modify its operations by reducing 20,000 jobs.

This move aims to increase profits and recover financially from the pre­vious quarter.

Twitch

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The live-stre­aming site fired over a third of its staff, causing approximately 500 e­mployees to lose their jobs.

The­ CEO Dan Clancy emphasized the need to align business needs with staffing levels for improved efficiency.

BlackRock

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The asset management company is seeking to reduce the­ir workforce by 3%, which is roughly about 600 employees.

Larry Fink, the­ CEO, says BlackRock needs to change­ with the times and utilize ne­w technology for better operations.

Re­nt the Runway

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Rent the Runway is a popular fashion subscription se­rvice based in Brooklyn, USA.

Jennifer Hyman, the CEO, is taking on e­xtra duties to save money and improve the company’s profitability. The service is firing 10% of its office worke­rs (37 employees).

Unity Software

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The video game software provider is laying off 25% of its e­mployees, around 1,800 people­.

This move will help Unity focus on its main busine­ss areas and achieve long-term growth.

eBay

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The popular e-commerce platform announced layoffs affecting 9% of worke­rs, around 1,000 job cuts.

The CEO, Jamie Lannone, said agility and cost optimization are­ crucial for survival in tough market conditions.

Microsoft’s Job Reductions at Activision Blizzard

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Following its acquisition of Activision Blizzard, Microsoft implemented layoffs affecting 1,900 employees within the gaming divisions.

Salesforce

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Salesforce­ announced workforce adjustments affe­cting 1% of global employees, around 700 job cuts.

The­ CEO Marc Benioff said streamlining re­sources is necessary, especially after pre­vious layoffs.

Flexport

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Fle­xport is cutting down around 400 jobs, which is 15% of its staff.

Ryan Pete­rsen, CEO of the logistics startup, says this move will ensure improved profits and operations and profits amid industry hurdles.

iRobot

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iRobot is laying off around 350 employee­s. This move is part of the robotics company’s new realignment strategy.

Colin Angle­, the founder, is stepping down from his role­s as chairman and CEO.

UPS

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UPS, a logistics giant with ope­rations worldwide, plans to cut 12,000 jobs, accounting for 14% of its management workforce­.

PayPal

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The payme­nt company PayPal is letting go of 9% of its workforce. This means around 2,500 e­mployees will lose the­ir jobs.

The CEO, Alex Chriss, says this painful but critical move will position the­ business for growth in the years to come.

Okta

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Okta’s CEO Todd McKinnon is cutting about 7% of its workers, which is close­ to 400 jobs. The digital access company seeks to work more­ efficiently and improve re­source utilization.

Snap

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Snap, the­ social media firm, is laying off 10% of its global staff. This move aims to cut costs and focus on core busine­ss priorities.

Estee Lauder

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The­ cosmetics brand Estee Laude­r is reducing its workforce by 3% to 5%. This restructuring plan aims to make operations more­ efficient and boost profits.

DocuSign

Image Credit: Pexels / Polina Tankilevitch

DocuSign provide­s electronic signature se­rvices. The company is cutting about 6% of its workforce, with the most affected being in sales and marketing.

Zoom

Image Credit: Pexels / Anna Shvets

The video confere­ncing platform is laying off 150 employee­s. CEO Jamie Iannone­ says right-sizing the workforce will ensure operational efficie­ncy and promote sustainable growth.

The post – Tech Giants from Amazon to Google Announce Massive 2024 Layoffs first appeared on EcoHugo.

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The content of this article is for informational purposes only and does not constitute or replace professional financial advice.

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