INVC News
San Francisco :It is unfortunate to hear about the wave of layoffs and job losses in the United States as reported by Forbes’ Layoff Tracker in 2023. The economic impact of these layoffs is significant, with over 194,000 American workers affected. Several major tech companies have experienced substantial layoffs this year. Alphabet, the parent company of Google, laid off 12,000 employees in January. Amazon, after letting go of 10,000 employees in November, further cut 8,000 positions. Microsoft also announced cutbacks, affecting 10,000 employees in January, while its subsidiary, GitHub, removed 300 positions in February. Moreover, in May, Microsoft announced layoffs of 158 employees from its headquarters in Redmond, Washington.

The month of January alone saw over 74,000 job losses. Salesforce laid off 7,900 employees, Goldman Sachs cut 3,200 positions, and IBM eliminated 3,900 jobs. Manufacturing giant 3M also underwent multiple rounds of layoffs, cutting 2,500 positions in January and an additional 6,000 jobs in April. Other significant layoffs in 2023 include Morgan Stanley (3,000 positions), David’s Bridal (over 9,200), Dell (6,650), and Disney (7,000).

The media industry has also been affected, with nearly 40 media companies experiencing layoffs in 2023, according to Forbes’ media layoff tracker. ESPN, for instance, recently made cuts that affected 20 on-screen employees, including long-term employee and analyst Jeff Van Gundy. Other notable layoffs in the media sector include Bloomberg (10 employees), Warner Bros. Discovery (100), The Athletic (20), The Los Angeles Times (74), Spotify (200), and Vice Media (100).

These layoffs indicate the challenges faced by various sectors and the concerns of a potential global recession. It is a difficult time for those affected, and efforts to address the economic situation and support those who have lost their jobs are crucial.

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