The tech industry is reeling from the combination of a rough economy, the COVID-19 pandemic and some obvious business missteps. And while that led to job cuts in 2022, the headcount reductions have unfortunately ramped up in 2023. It can be tough to keep track of these moves, so we’ve compiled all the major layoffs in one place and will continue to update this story as the situation evolves.
October
LinkedIn layoffs
In its second round of layoffs this year, LinkedIn said it is letting go around 668 workers from across its engineering, product, talent and finance teams. In May, LinkedIn said it would lay off 716 people and close its job search app in China. Between the two rounds of layoffs, LinkedIn will have cut nearly 1,400 jobs in 2023.
September
Epic Games layoffs
Epic Games laid off 16 percent of its employees, or about 830 employees. In an open letter to employees, CEO Tim Sweeney said the company was spending "way more money" than it earns, and that "we concluded that layoffs are the only way." Previously, the company had attempted to reduce costs by freezing hiring and cutting its marketing spending.
Roku layoffs
Roku's second round of 2023 layoffs is seeing another 300 people leaving the company, on top of 200 it let go in March and another 200 folks it dismissed in late 2022. Roku is once again looking to reduce costs and, along with lowering its headcount, it's trying to do that by axing shows and movies from its platform, consolidating office space and spending less on outside services.
July
Google layoffs
Google drew attention in July when is contracting partner Accenture laid off 80 Help subcontractors who voted to form the Alphabet Workers Union-CWA the month before. Accenture attributed the move to cost-cutting. While the company said it respected the subcontractors' right to join a union, the former teams accused Google of retaliating against labor organizers.
CD Projekt Red layoffs
The creator of Cyberpunk 2077 isn't immune to business challenges. CD Projekt Red warned in July that it would lay off about 100 people over the next several months, or about nine percent of the workforce. Employees will be let go as late as the first quarter of 2024. CEO Adam Kiciński was frank about the reasoning: CDPR was "overstaffed" for a reorganization meant to better handle the game developer's widening product roadmap, which includes new Cyberpunk and Witcher titles.
June
Spotify layoffs
Spotify followed up its January layoff plans with word in June that it would cut 200 jobs in its podcast unit. The move is part of a more targeted approach to fostering podcasts with optimized resources for creators and shows. The company is also combining its Gimlet and Parcast production teams into a renewed Spotify Studios division.
GrubHub layoffs
GrubHub has faced intense pressure from both the economy and competitors like Uber, and that led it to lay off 15 percent of its workforce in June, or roughly 400 staff. This came just weeks after outgoing CEO Adam DeWitt officially left the food delivery service. New chief executive Howard Migdal claims the job cuts will help the company remain "competitive."
Embracer Group layoffs
Game publishing giant Embracer Group announced plans for layoffs in June as part of a major restructuring effort meant to cut costs. The company didn't say how many of its 17,000 employees would be effected, but expected the overhaul to continue through March. The news came soon after Embracer revealed that it lost a $2 billion deal with an unnamed partner despite a verbal agreement.
Sonos layoffs
Sonos has struggled to turn a profit as of late, and it's cutting costs to get back on track. The company said in June that it would lay off 7 percent of staff, or roughly 130 jobs. It also planned to offload real estate and rethink program spending. CEO Patrick Spence said there were "continued headwinds" that included shrinking sales.
Plex layoffs
Plex may be many users' go-to app for streaming both local and online media, but that hasn't helped its fortunes. The company laid off roughly 20 percent of employees in June, or 37 people. The cuts affect all areas. Plex is reportedly feeling the blow from an ad market slowdown, and is eager to cut costs and turn a profit.
May
Shopify layoffs
Shopify's e-commerce platform played an important role at the height of the pandemic, but the Canadian company is scaling back now that the rush is over. In May, the company laid off 20 percent of its workforce and sold its logistics business to Flexport. Founder Tobi Lütke characterized the job cuts as necessary to "pay unshared attention" to Shopify's core mission, and an acknowledgment that the firm needed to be more efficient now that the "stable economic boom times" were over.
Polestar layoffs
Polestar delayed production of its first electric SUV (the Polestar 3) in May, and that had repercussions for its workforce. The Volvo spinoff brand said in May that it would cut 10 percent of its workforce to lower costs as it faced reduced manufacturing expectations and a rough economy. Volvo needed more time for software development and testing that also pushed back the EX90, Polestar said.
SoundCloud layoffs
SoundCloud followed up last year's extensive layoffs with more this May. The streaming audio service said it would shed 8 percent of its staff in a bid to become profitable in 2023. Billboard sources claim the company hopes to be profitable by the fourth quarter of the year.
April
Lyft layoffs
Lyft laid off 13 percent of staff in November 2022, but took further steps in April. The ridesharing company said it was laying off 1,072 workers, or about 26 percent of its headcount. It comes just weeks after an executive shuffle that replaced CEO Logan Green with former Amazon exec David Risher, who said the company needed to streamline its business and refocus on drivers and passengers. Green previously said Lyft needed to boost its spending to compete with Uber.
Dropbox layoffs
Cloud storage companies aren't immune to the current financial climate. In April, Dropbox said it would lay off 500 employees, or roughly 16 percent of its team. Co-founder Drew Houston pinned the cuts on the combination of a rough economy, a maturing business and the "urgency" to hop on the growing interest in AI. While the company is profitable, its growth is slowing and some investments are "no longer sustainable," Houston said.
March
Roku layoffs
Roku shed 200 jobs at the end of 2022, but it wasn't done. The streaming platform creator laid off another 200 employees in March 2023. As before, the company argued that it needed to curb growing expenses and concentrate on those projects that would have the most impact. Roku has been struggling with the one-two combination of a rough economy and the end of a pandemic-fueled boom in streaming video.
Lucid Motors layoffs
If you thought luxury EV makers would be particularly susceptible to economic turmoil, you guessed correctly. Lucid Motors said in March that it would lay off 18 percent of its workforce, or about 1,300 people. The marque is still falling short of production targets, and these cuts reportedly help deal with "evolving business needs and productivity improvements." The cuts are across the board, too, and include both executives as well as contractors.
Meta (Facebook) layoffs
Meta slashed 11,000 jobs in fall 2022, but it wasn't finished. In March 2023, the company unveiled plans to lay off another 10,000 workers in a further bid to cut costs. The first layoffs affected its recruiting team, but it shrank its technology teams in late April and its business groups in late May. The Facebook owner is hoping to streamline its operations by reducing management layers and asking some leaders to take on work previously reserved for the rank and file. It may take a while before Meta's staff count grows again — it doesn't expect to lift a hiring freeze until sometime after it completes its restructuring effort in late 2023.
February
Rivian layoffs
Rivian conducted layoffs in 2022, but that wasn't enough to help the fledgling EV brand's bottom line. The company laid off another six percent of its employees in February, or about 840 workers. It's still fighting to achieve profitability, and the production shortfall from supply chain issues hasn't helped matters. CEO RJ Scaringe says the job cuts will help Rivian focus on the "highest impact" aspects of its business.
Zoom layoffs
Zoom was a staple of remote work culture at the pandemic's peak, so it's no surprise that the company is cutting back now that people are returning to offices. The video calling firm said in February it was laying off roughly 1,300 employees, or 15 percent of its personnel. As CEO Eric Yuan put it, the company didn't hire "sustainably" as it dealt with its sudden success. The layoffs are reportedly necessary to help survive a difficult economy. The management team is offering more than just apologies, too. Yuan is cutting his salary by 98 percent for the next fiscal year, while all other executives are losing 20 percent of their base salaries as well as their fiscal 2023 bonuses.
Yahoo layoffs
Engadget's parent company Yahoo isn't immune to layoffs. The internet brand said in February that it would lay off over 20 percent of its workforce throughout 2023, or more than 1,600 people. Most of those cuts, or about 1,000 positions, took place immediately. CEO Jim Lanzone didn't blame the layoffs on economic conditions, however. He instead pitched it as a restructuring of the advertising technology unit as it shed an unprofitable business in favor of a successful one. Effectively, Yahoo is bowing out of direct competition in with Google and Meta in the ad market.
Dell layoffs
The pandemic recovery and a grim economy have hit PC makers particularly hard, and Dell is feeling the pain more than most. It laid off five percent of its workforce in early February, or about 6,650 employees, after a brutal fourth quarter where computer shipments plunged an estimated 37 percent. Past cost-cutting efforts weren't enough, Dell said — the layoffs and a streamlined organization were reportedly needed to get back on track.
Deliveroo layoffs
Food delivery services flourished while COVID-19 kept people away from restaurants, and at least some are feeling the sting now that people are willing to dine out again. Deliveroo is laying off about 350 workers, or nine percent of its workforce. "Redeployments" will bring this closer to 300, according to founder Will Shu. The justification is familiar: Deliveroo hired rapidly to handle "unprecedented" pandemic-related growth, according to Shu, but reportedly has to cut costs as it deals with a troublesome economy.
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