These companies have recently conducted mass layoffs

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Major companies in the media, retail and technology sectors have undertaken mass layoffs to cut costs as they invest in artificial intelligence, and after increasing their workforces during the pandemic. High interest rates are also contributing to layoffs at technology companies, in particular.

A number of companies in various sectors have started 2024 by announcing that they will cut jobs following layoffs at the end of 2023. Experts say Investments in AI can be a contributor, but they are not solely responsible. Below is a list of companies that are reducing headcount.

technology

Google

In mid-January, Google, which is owned by Alphabet The company laid off hundreds of workers in its hardware, voice assistant, and engineering teams To cut costs, the company said in a statement at the time, noting a focus on “responsibly investing in our company’s biggest priorities and the big opportunities ahead.”

Alphabet CEO Sundar Pichai He warned employees to prepare for more layoffs Amid the company’s quest to move forward in the artificial intelligence arms race. The cuts are aimed at freeing up money to “invest in… [the company’s] High priorities,” according to a memo sent to employees.

One year ago, Google announced It will eliminate 12,000 jobsor about 6% of its workforce, to cut costs after going on a hiring spree during the pandemic.

“Over the past two years, we have seen periods of significant growth,” Alphabet CEO Sundar Pichai wrote in an article. Blog post on time. “To match and enhance this growth, we have set an economic reality different from the one we face today.”

Microsoft

In an internal memo last week, Microsoft announced 1,900 job cuts in its gaming division, The Associated Press mentioned. The cuts represent about 8% of the total gaming workforce.

Riot Games

Riot Games, developer of the popular video game League of Legends, cut 530 jobs, or 11% of its employees, last January, to allow the company to move “toward a sustainable future.” according to Memo sent to employees.

“This decision is critical to the future of Riot,” the company said in a statement issued on January 22. “This is not to please shareholders or hit a quarterly earnings number — it is a necessity.”

Tik Tok

The social media app TikTok, owned by tech giant ByteDance, laid off 60 advertising and sales workers this month, as part of a routine reorganization, according to the company.

Amazon owned companies

Amazon-owned audiobook and podcast service Audible has cut 100 employees, or 5% of its workforce, amid cuts at other Amazon divisions, including Prime Video. The e-commerce giant’s broadcast and studio unit also cut hundreds of jobs amid a changing landscape of video consumption and following Amazon’s acquisition of MGM Studios.

Sales force

Salesforce in January It laid off 7,350 workers, or 10% of its workforceAmid industry-wide cost-cutting measures. The San Francisco-based cloud computing company also said it would close some of its offices to save on real estate costs.

“The environment remains challenging and our customers are taking a more nuanced approach to their purchasing decisions,” CEO Marc Benioff said in a statement. letter For employees. “With this in mind, we have made the very difficult decision to reduce our workforce by approximately 10%, mostly over the coming weeks,” he added.

selling by pieces

eBay

The online e-commerce company announced it will cut 1,000 jobs, or roughly 9% of its full-time workforce, in an effort to better match the company’s pace of growth in a slowing economy.

REI

The outdoor apparel and equipment retailer is laying off 357 workers, with most of the job cuts affecting workers at its headquarters and in the distribution center, following four quarters He refuses.

Levi

Denim maker Levi Strauss & Co. said last week that it plans to cut 10% to 15% of its 19,100-person workforce in the first quarter of the year to cut costs and streamline operations. This and other cost-cutting measures are expected to result in net cost savings of $100 million in the current fiscal year, the company said. He said.

Messi

Chronically poor performance Macy’s store It struggled to keep up with changing consumer preferences for online shopping, leading to financial struggles that made layoffs necessary.

Last week, the iconic retailer indicated that it would lay off 3.5%, or approximately 2,350, of its employees, and close five of its stores to cut costs as part of a “new strategy to meet ever-changing consumer and market needs.” The company told the Associated Press last week.

Wayfair

In the first month of the year, the online furniture retailer Wayfair announces 13% workforce reduction After hiring very ambitiously. in letter The company will cut 1,650 jobs to remain profitable after companies “binged on hiring during the coronavirus,” CEO Neeraj Shah told employees.

The Associated Press contributed to this report

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