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November 30, 2022 In a letter to employees, DoorDash CEO Tony Xu said the food delivery company is “not immune to external challenges” and that the company’s expansion had been “curtailed” following a “sudden and unprecedented” expansion of the Covid era when consumers turned to delivery services.
November 29, 2022 AMC Networks President James Dolan announced a series of large-scale layoffs Tuesday in a memo, the Wall Street Journal reported, just hours after embattled entertainment company CEO Christina Spade resigned after just 3 months in that role. Forbes request for comment).
HP Inc. expects to reduce its global share by about 4,000 to 6,000 workers by the end of 2025, the company said in its fourth-quarter earnings release, outlining efforts to cut annual costs by $1. 4 billion amid slowing customer demand and a “volatile” economic environment.
November 18, 2022 Carvana is cutting about 8% of its enterprise, generation and operations equipment, according to a user familiar with the matter, as the Arizona-based company faces steep financing prices and overdue car purchases.
Nov. 18, 2022Nuro, the San Francisco Bay Area-based autonomous vehicle delivery startup, plans to cut 20 of its workforce, co-founders Jiajun Zhu and Dave Ferguson said Friday morning in an email to employees, blaming the cuts on a “variety of macroeconomic challenges,” adding “geopolitical uncertainty, energy crisis, persistent inflation and a near recession in the United States. “
November 17, 2022 “Current economic conditions” have led Roku officials to eliminate about 7% of its U. S. workforce. The U. S. government (200 employees), the company said in a press release Thursday morning, as the company seeks to “drive long-term expansion and our leadership position. “
November 16, 2022 Cisco’s job cuts can be about 4100 employees (about 5% of the company’s 83,000 employees), according to CFO Scott Herren, who called the cuts a “general rebalancing” during a earnings call, Barron’s reported (Cisco did not respond promptly to a Forbes survey).
November 16, 2022 In a blog post, Dave Limp, Amazon’s senior vice president of devices and services, said the layoffs come as the company continues to face an “unusual and dubious macroeconomic environment,” days after several media outlets announced that Amazon was making plans. to lay off staff because up to 10,000 employees in corporate and generation roles, the number of jobs cut continues to evolve steadily, the New York Times noted.
November 15, 2022 Asana COO Anne Raimondi announced that the software company would lay off 9% of its workforce (about 230 of the company’s 2560 employees, according to Pitchbook) in a LinkedIn post, saying the cuts would target international companies; The newest technology company founded in the San Francisco Bay Area to announce significant cuts. after Twitter, Meta, Lyft, Stripe, Salesforce, Chime and Opendoor.
November 11, 2022Disney has told executives it plans to implement “a specific hiring freeze” and anticipates job cuts, according to CNBC, after reporting quarterly losses this week, though it’s unclear how many workers will be affected by the changes. .
November 11, 2022Juul announced the layoffs, which are expected for about 30% of its workforce, the Wall Street Journal reported, as the long-suffering company gets more investment from investors to avoid bankruptcy two months after agreeing to pay $438 million to settle a lawsuit from 33 states and Puerto Rico alleging the company was marketing its products to teenagers. and although the company looked good, the Food and Drug Administration’s ban on selling its vaporizers.
November 10, 2022Barclays began laying off about two hundred workers in its banking and commercial departments this week, the resources told Bloomberg, while Citigroup is laying off 50 commercial workers, CNBC reported, as did Goldman Sachs, SoftBank and Wells Fargo, all of which implemented significant measures. Task cuts earlier this year (Barclays and Citigroup did not immediately respond to Forbes’ requests for comment).
November 9, 2022 Redfin announced in a filing with the Securities and Exchange Commission that it would cut 13% of its (862 workers), while another 218 workers whose duties have been cut will receive new positions at the company: its circular of timing layoffs in recent months after its resolution to cut 8% of its in June as loan rates continued to rise. reaching a maximum of 22 years.
November 9, 2022Mark Zuckerberg, CEO of Meta, the parent company of Facebook, Instagram and WhatsApp, showed that the social media company will lay off 13% of its (11,000 employees) on Wednesday, attributing its low revenues to the “macroeconomic slowdown” and “increased competition”, making it one of the biggest series of cuts for a primary tech company so far this year. following a hiring freeze announced in September.
November 8, 2022 Salesforce laid off fewer than 1,000 workers on Monday, a source familiar with the move told CNBC, and reportedly planned to lay off about 2,500 of the company’s 72,223 workers (about 3. 5% of its workforce, according to Pitchbook) for “performance issues,” Protocol reported, citing an industry source and a former employee.
November 8, 2022Zendesk plans to lay off about 350 employees, adding 84 in California, SF Gate and the San Francisco Chronicle reported, showing a tweet from a San Francisco supervisory board member referring to the company’s filing of an employee adjustment and retraining request. Notice filed last week (Zendesk did not respond to a Forbes survey).
November 2, 2022 Online financial services company Chime will lay off 12% of its staff, and 160 of the company’s 1300 employees are expected to cut backs, a spokesperson told CNBC, as the San Francisco-based online banking and financial services company tries to recapitalize “regardless of market conditions,” according to an internal memo received through TechCrunch.
November 3, 2022 rideshare giant Lyft is reported to have laid off 13% of its Array according to a letter from corporate officials received via CNBC, with task cuts affecting around 650 employees (13% of its roughly 5,000, not counting its hired drivers), marking the timing of the company’s layoff circular this year, after laying off 60 employees in July (Lyft did not immediately respond to a Forbes survey).
November 3, 2022Stripe announced plans to cut 14% of its workforce (about 1120 of its 8,000 positions in October, according to PitchBook) as the online money services company faces “stubborn inflation, energy shocks, higher interest rates, reduced budget investments, and scarcer seed funding,” after the company “overhired” and “underestimated the likelihood and had an effect on a broader recession,” CEO Patrick Collison said in a statement to employees.
November 3, 2022 Billionaire Elon Musk reportedly intends to lay off around 50% of Twitter’s 7500 employees, several media outlets reported on Thursday, a week after the world’s richest guy took over the company, with earlier reports indicating he could lay off 25% or more. to 75% of the workforce, although Musk has invested that original figure.
November 2, 2022 In a blog post on Wednesday, Opendoor CEO Eric Wu blamed the company’s job cuts, which reduced 18% of its workforce, on the “toughest real estate market in 40 years and the ‘need to adjust our business,’ as the housing market continues to cool in the wake of EM inflation and 4 rounds of rate hikes. of interest to the Federal Reserve this yearArray
2Up’s layoffs are expected to affect about 7% of the cloud-based AI lending company’s workforce, with cuts more common among workers working on loan applications, a spokesperson told Forbes, saying the move comes “given the difficult economic situation. “
Zillow, the Seattle-based online real estate company, plans to lay off 300 employees (about 5% of its nearly 5800 employees), TechCrunch reported, nearly a year after announcing plans to lay off 2000 employees.
October 26, 2022 Seagate Technology CEO Dave Mosley said the cuts, which are expected to affect 8% of the knowledge garage company’s workforce, stick to “global economic uncertainties” and reduced demand, as the company’s stock falls to $53. 69 from a January high of $117. 67.
25 October 2022Manufacturing giant Philips has revealed plans to lay off around 4,000 employees in a “deteriorating macroeconomic environment”, with job cuts expected for more than 5% of the company’s workforce in the Netherlands, where it is headquartered, and in the Netherlands. United States.
Oct. 22, 2022Va’s layoffs about 3% of the company’s workforce, most commonly in its corporate divisions, Skift reported — its circular moment of cuts this year following its resolution to lay off 25 sales workers in July — a spokesperson told Skift that the company is looking to “optimize our resources and groups to be effective and aligned with our priorities. “
October 19, 2022 Philadelphia-based delivery startup Gopuff laid off as many as 250 workers in its third layoff circular this year, anonymous sources told Bloomberg, after cutting about 400 in March and a hundred in January; A corporate spokesperson told Forbes that the recent cuts are part of a 10% cut announced over the summer.
October 18, 2022Microsoft’s cuts will be less than 1% of its 180,000 employees, a spokesperson told CNBC, 3 months after the Redmond, Washington-based tech company announced it would cut another 1% of its workforce, with cuts coming from the Modern Life Experiences Team: A Microsoft spokesperson told Forbes that the company will “regularly assess our business priorities and make structural changes accordingly. “
Oct. 14, 2022HelloFresh, which removed pandemic-related closures, laid off 611 employees and closed a production plant in California this week as the company focuses on “newer, more effective sites,” a corporate spokesperson told Business Insider.
October 14, 2022 Beyond Meat announced it will lay off 19% of its workforce as the California-based company faces a drop in demand for plant-based meats due to inflation as consumers opt for less expensive alternatives, corporate officials said.
October 14, 2022 Nevada-based real estate valuation firm Clear Capital announced plans to cut 27% of its global (about 378 workers), TechCrunch reported, adding 108 workers in its California office.
Oracle is laying off 201 employees, according to several media outlets, filing filings with the state Department of Employment Development, two months after the company began laying off an undisclosed number of its estimated 143,000 employees, as part of a larger plan to cut thousands, The Information reported.
October 12, 2022Intel could lay off thousands of employees, adding about 20 percent in its sales and marketing departments, Bloomberg reported that it cited anonymous resources familiar with the proposal, following a disappointing economic forecast by the company in July, which it blamed on a “sudden and rapid” economic decline. as its shares have more than halved over the past year. to $25. 04.
Brex’s task cuts 136 employees, raising its workforce to around 1,150, as the company adapts to a “new macro environment” that “justifies a new point of concentration and financial discipline,” CEO Pedro Franceschi wrote in a blog post. .
October 6, 2022The layoffs at Peloton, which represent about 12% of the company, come two months after a worker memo received via Bloomberg revealed that the trainer maker had cut nearly 800 jobs and announced plans to close retail stores and increase its bike costs. and Treading Machines.
September 29, 2022SoftBank is preparing to lay off at least 150 of the 500 employees hired through Vision Fund, the venture capital arm of the Japanese conglomerate, which would be around 30% of the staff, according to Bloomberg, a move that billionaire SoftBank founder and CEO Masayoshi Son hinted at last month after a record quarterly loss of $23 billion. will affect the staff of the fund’s U. S. sites based in London, Silicon Valley and Miami).
San Francisco-based electronic signature firm DocuSign will lay off nine percent of its more than 7400 workers (about 670 workers), the company said Wednesday in a Securities and Exchange filing, saying the cuts are “necessary for us to capitalize on our long-term opportunity and set the company up for long-term success.
September 26, 2022 Wells Fargo reportedly announced plans to lay off 36 employees, bringing the bank’s total layoff since April to more than 400, Iowa CBS subsidiary KCCI said following the banking giant’s resolution earlier this month to eliminate another 75 people from its loan. division. (Wells Fargo did not respond to a request from Forbes. )
September 21, 2022In the same vein, Google has also alerted about fifty employees, about some of those working in the Area 120 startup incubator, to find a new position internally within 3 months if they need to stay at Google, according to the Journal reported.
Sept. 21, 2022The Nordstrom clothing store plans to lay off 231 workers at an Iowa distribution center starting next month, local ABC partner KCRG reported, citing a spokesperson who said the move was mandatory to “better align with the existing needs of our company” (Nordstrom did so not without delay responding to a Forbes request).
September 20, 2022 Gap may eliminate up to 500 jobs at its New York and San Francisco offices, as well as offices in Asia, anonymous resources told The Wall Street Journal on Tuesday (a Gap spokesperson showed the layoffs to Forbes but gave more details).
AbbVie has reportedly announced plans to lay off 99 workers, while Bristol Myers Squibb plans to cut 261, according to state documents notified via Endpoints News, making them the newest pharmaceutical corporations to downsize, following Biogen and Teva, which allegedly cut 300 jobs last month.
September 14, 2022 Twilio CEO Jeff Lawson announced the resolution to cut 11% (about 800 to 900 of the company’s nearly 8,000 employees) in a corporate blog, saying it has grown “too fast” and “without enough focus” over the past two years.
September 13, 2022Warner Bros. Discovery, which shaped a merger between the two production giants in April, could lay off “hundreds” of advertising sales workers on the WarnerMedia and Discovery sides of the company, Axios reported, citing anonymous sources, as the company seeks to reduce the length of its advertising team representing HBO, CNN, Discovery, Turner and Warner Bros. Entertainment, according to Insider, which also spoke to anonymous sources.
September 12, 2022Goldman Sachs typically lays off 1-5% of its staff each year as part of annual functionality reviews, but suspended this program due to the Covid-19 pandemic: the investment bank reported earlier this year that it would reinstate the cuts, which are expected to be closer to 1% of staff across all sectors and may take place this month, The New York Times reported, citing other people familiar with the plans.
September 9, 2022, Beaumont-Spectrum, which was formed earlier this year as a result of a merger between Beaumont and Spectrum, has cut 400 corporate positions as the healthcare network grapples with “significant monetary pressures due to historic inflation, emerging pharmaceuticals costs and hard work, COVID-19, expiration of CARES Act investment, and no-expense reimbursement.
September 2, 2022 banking giant Citigroup reportedly made layoffs in its mortgage lending division, which a source told Bloomberg encompassed less than a hundred positions.
September 2, 2022SoftBank, the Tokyo-based investment control giant, plans to cut up to 20% of the roughly 500 workers of its Vision Fund 3 weeks after the fund posted a record loss in the fiscal quarter that ended in June.
Investment banking giant Credit Suisse could cut up to 5,000 jobs as the scandal-hit bank seeks to change its reputation and cut costs, according to Reuters.
August 31, 2022Snap, the Californian developer of the Snapchat mobile app, has announced plans to lay off more than 1,200 workers (about 20% of its workforce), in its circular of task cuts this summer, according to an internal memo received via CNN.
31 August 2022Bed Bathroom
August 31, 2022VF Corporation, the parent company of brands such as Vans, Timeberland, and The North Face, reportedly laid off three hundred workers and eliminated three hundred vacancies (less than 1% of its global workforce), with CEO Steve Rendle writing in an internal letter to workers reporting received via the Denver Business Journal that the cuts come in an environment that “will likely continue to be marked by volatility. ” the firings to Forbes but did not provide further details).
August 30, 2022 Snap CEO Evan Spiegel announced in a memo that the company would lay off 20% of its more than 6400 employees (1280 employees), The Verge reported, saying the company faces a “lower rate of profit growth” — the company’s percentage price has fallen nearly 80% since the start of the year.
August 26, 2022 Online loan lender Better. com reportedly announced its third round of layoffs this year and fourth in the past 12 months, laying off about 250 employees, an anonymous employee told TechCrunch, bringing the company’s total layoff since December to around 4,000 as corporate struggles in a precipitous housing market recession (Better. com did not respond to a survey by Forbes).
August 25, 2022The interim CEO of synthetic intelligence startup DataRobot Debanjan Saha announced the Boston-based company’s job cuts circular since May in a bid to “adapt to changing market dynamics,” and while the company did not specify the number of employees leaving, LinkedIn said it would be 26% of its workforce. which, according to TechTarget, would constitute about 260 of its 1,000 employees.
Aug. 25, 2022 Tennessee-based trucking company U. S. Xpress cut its stake by five percent, a spokesperson told local ABC associate WTVC, bringing the total number of layoffs this summer to about 140, following a series of cuts in May that further reduced corporate through five percent. which at that time had about 70 employees.
August 22, 2022Ford said it will lay off about 3,000 people and hire staff as the automaker prepares to cut costs in the transition to electric vehicle production, according to the Wall Street Journal.
August 19, 2022Boston-based online furniture store Wayfair cut 870 jobs (nearly 5% of the company’s 18,000 employees), according to an internal memo from CEO Niraj Shah received through the Boston Globe, which said corporate rebuilding after the Covid-19 pandemic still made its “team too big for the environment we’re in lately. “
The software company New Relic has laid off 110 employees, adding 90 in the United States (about 5% of its workforce), CEO Bill Staples issued a statement on the company’s website, writing that the cuts are critical in light of “current data on expansion trends and market expectations. “
August 16, 2022 Philadelphia-based Audacy, the second-largest radio company in the U. S. The U. S. government has cut its stake by 5% (estimated at about 250 employees), Inside Radio reported, and CEO David Field said the cuts come “in light of macroeconomic headwinds.
August 16, 2022 Apple, the world’s most valuable company, has fired a hundred contract recruiters amid slowing hiring, Bloomberg reported (Apple did not respond to a Forbes request).
August 15, 2022HBO Max has cut 70 jobs (14% of its workforce) from a cost-cutting effort that comes 4 months after Discovery acquired HBO Max’s parent company, WarnerMedia, for $43 billion and a week after the company announced plans to mix the streaming service with Discovery starting next year. Deadline informed.
Texas-based home fitness company Signify Health has laid off 489 employees, a cost-cutting decision that comes weeks after fitness giant CVS made an offer to buy the company, several media outlets reported.
August 11, 2022 The CEO of meditation app Calm, David Ko, announced plans to lay off 90 workers (20% of the company’s workforce) in a memo to workers, saying, “As a company, we are immune to the effects of the current economic environment. “
California-based tech startup Nutanix has announced plans to eliminate another 270 people (4% of its workforce) by the end of October, according to a Securities and Exchange Commission filing, in a bid to cut expenses.
August 10, 2022, Sweetgreen fast casual salad store has reduced its workforce by 5%, attributing the company’s losses to a slow return to the workplace and persistent cases of Covid-19, a conventional call, CNBC reported.
August 9, 2022The website design company Wix. com carried out its layoff circular this year, laying off a hundred workers, while President and COO Nir Zohar told the Israeli newspaper Calcalist: “The world has had an economic crisis and we have noticed that the U. S. GDP is going down in the world. The U. S. falls without growth. “
August 9, 2022Canadian social media watchdog Hootsuite has announced plans to cut 30% of its nearly 1,000 employees.
August 8, 2022 Groupon has revealed plans to lay off 15% of its (500 workers), mainly in the company’s technical and commercial departments, and CEO Kedar Deshpande wrote in a message to workers received via Forbes: “Our job title design and functionality are non-aligned
August 8, 2022 Snap began laying off an undisclosed number of its 6,000 employees, following a disappointing earnings report released last month, The Verge reported, bringing up unidentified sources.
August 5, 2022iRobot, the maker of Roomba, has cut 10% of its (140 employees) as the company restructures after being bought through Amazon for $1. 7 billion, the company told Forbes, adding that the task cuts were not similar to the acquisition. .
August 4, 2022 California-based video game developer Jam City laid off between 150 and 200 workers, about 17% of its workforce, VentureBeat reported, saying the cuts come “in light of the challenging global economy and its impact on the gaming industry. “
August 3, 2022Walmart, the largest personal employer in the United States, plans to lay off two hundred of its workers as the company seeks to restructure, the Wall Street Journal reported, citing anonymous sources.
August 2, 2022The online brokerage agency Robinhood laid off 23% of its staff, with CEO Vlad Tenev citing a drop in trading activity, peak inflation, and a “widespread cryptocurrency market crash” — the move comes after Robinhood said it laid off 9% of its full-time workers in April, a series of cuts, according to Tenev, “didn’t happen enough. “
July 27, 2022The fitness company F45 Training has laid off 110 employees, or 45% of its workforce, following the departure of CEO Adam Gilchrist.
Ecommerce company Shopify has become the newest company to lay off employees, cutting ties with 1000 (10% of its workforce), CEO Tobi Lutke announced, saying that growing demand for online grocery shopping has stabilized, and the company has made a bet that “hasn’t paid off. “
July 22, 2022Boston-based generation watchdog Whoop reduced its workforce by 15% and told the Boston Globe that it now has 550 workers (meaning it has cut nearly 97), adding in a statement: “Given the negative evolution of the macroeconomic environment, we want to grow responsibly and with our own destiny.
July 21, 2027: Eleven, which operates 13,000 convenience retail stores in North America, has eliminated 880 jobs at U. S. companies, just over a year after striking a $21 billion deal to buy Speedway.
Seattle-based real estate startup Flyhome has laid off 20% of its staff, which reportedly amounts to about two hundred workers, as the company navigates through “uncertain economic conditions. “
July 20, 2022Ford plans to lay off up to 8,000 workers as the automaker looks to move away from gasoline-powered cars and into electric vehicle production, Bloomberg reported.
July 19, 2022Vimeo CEO Anjali Sud announced on LinkedIn that the online video company will cut 6% of its workforce to “pull a more powerful company out of this economic downturn. “
July 19, 2022Olive, an Ohio-based automated fitness software startup, laid off 450 employees, or nearly 35% of the company, while CEO Sean Lane admitted that the company’s commitment to “act urgently” led to a hiring frenzy that proved too unwieldy. which led him to “rethink that approach. “
July 18, 2022Cryptocurrency exchange Gemini has laid off employees, or 7% of its staff, less than two months after laying off 10% of its workforce, according to TechCrunch.
July 14, 2022 OpenSea, the New York-based non-fungible token (NFT) company, announced in a tweet that it had laid off 20% of its assets amid fears of “widespread macroeconomic instability” with the option of a “prolonged slowdown. “”
July 13, 2022 Online ordering startup ChowNow has laid off a hundred people, TechCrunch reported, as it returns from a “big and ambitious” budget it may miss amid fears that a lagging market could trigger a recession.
July 13, 2022Tonal, the home fitness company, has laid off 35% of its employees amid worsening “macroeconomic sentiment and global supply chain challenges. “
July 12, 2022Tesla laid off 229 employees, most commonly in its Autopilot division, and shut down its San Mateo, California, just weeks after CEO Elon Musk emailed executives, saying he had a “super bad feeling” about the economy and planned to cut 10% of his headcount. Reuters reported.
July 12, 2022Some 1500 workers were laid off from overseas delivery start-up Gopuff (10% of its staff) and 76 of its U. S. warehouses were closed. Expansion style at all costs.
July 12, 2022 LoanDepot, a California-based lending firm, announced plans to lay off 2000 by the end of the year, raising its 2022 layoffs to 4800, more than a portion of the company’s 8500 employees, as the housing market “contracted sharply and abruptly,” CEO Frank Martell said in a statement.
July 11, 2022, electric car maker Rivian revealed plans to lay off 5% of the company’s 14,000 workers in spaces that have grown “too fast” from the pandemic and avoid hiring non-factory workers, according to an internal email from CEO RJ Scaringe, Bloomberg reported. .
Real estate company Re/Max announced plans to lay off 17% of its by the end of the year, with the goal of generating $100 million in annual credit earnings through 2028.
June 22, 2022JPMorgan Chase, the nation’s largest bank, laid off and redeployed more than 1,000 of its 274,948 employees, leading to emerging loan rates and EM inflation.
June 15, 2022Real estate Compass and Redfin announced plans to cut 10% and 8% of their workforce, respectively, following a 3. 4% drop in home sales from April to May, according to the National Association of Realtors, amid considerations: Hot housing market had cooled.
June 14, 2022Some 1100 Coinbase painters learned that they were released after wasting access to emails of their paintings, representing an 18% relief in the cryptocurrency company’s staff, a move that CEO Brian Armstrong has called imperative to “staying healthy in this economic downturn. “– and a harbinger of a recession and a “crypto winter” after a crypto boom of more than 10 years.
May 21, 2022The CEO of used car salesman Carvana, Ernie Garcia III, sent an email to 2500 workers, 12% of the company, informing them that they had lost their jobs, a week after freezing new hires, while the company was ready for what seemed like an imminent risk of recession in car sales and reports of a “wasteful” corporate taste had bitten the corporate again.
Recession Watch: It doesn’t seem imminent, but housing market collapses as Fed officials warn ‘the economy will slow down’ (Forbes)