Layoff's: World At A Brink Of Global Recession
Layoff’s: The online news outlet Buzzfeed announced plans on Tuesday to lay off 12% of its staff in order to “weather an economic downturn.”
Morgan Stanley, a major American investment bank, is reportedly cutting 2% of its global workforce, and both firms are the latest to announce significant staff reductions amid concerns that high inflation could push the economy into recession.
Morgan Stanley’s layoffs, first reported by CNBC citing unnamed sources, could affect around 1,600 of the more than 81,000 people employed by the company
BuzzFeed CEO Jonah Peretti announced the cuts, expected to affect 180 employees, in an internal memo.
PepsiCo, which makes its namesake Pepsi soda along with products like Gatorade, Lays chips and Quaker Oats, is reportedly eliminating hundreds of jobs at headquarters in Chicago; Purchase, New York; and Plano, Texas,
Gannett, the parent company of USA Today, the Detroit Free Press, Indianapolis Star and Cincinnati Enquirer, began laying off employees on Thursday, a spokesperson confirmed to the media ,
CNN also began laying off staff, with CEO Chris Licht calling it a “gut punch” in a memo
H&M announced the job cuts—expected to affect 1,500 employees in a statement Wednesday morning,
DoorDash, In a letter to employees announcing plans to cut 1,250 workers, CEO Tony Xu said the food delivery company is “not immune to the external challenges” and that the company’s growth has “tapered”
AMC Networks chairman James Dolan announced a round of large-scale layoffs in a memo on Tuesday.
HP Inc. plans to reduce its global headcount by approximately 4,000 to 6,000 employees by the end of 2025,
Mark Zuckerberg, the CEO of Facebook, Instagram and WhatsApp parent company Meta, confirmed the social media company will lay off 13% of its workforce (11,000 employees) on Wednesday.
Amazon, Senior Vice President of Devices and Services Dave Limp said the layoffs come as the company continues to face an “unusual and uncertain macroeconomic environment”
Disney told executives it plans to implement “a targeted hiring freeze” and anticipates job cuts, according to CNBC, after reporting quarterly losses earlier this week, though it’s not clear how many employees will be affected by the changes.
Carvana is cutting roughly 8% of its workforce across its corporate, technology and operations teams, according to a person familiar with the matter, as the Arizona-based company struggles with high financing costs and delayed car purchases.
Barclays started laying off roughly 200 employees in its banking and trading departments this week, sources told Bloomberg, while Citigroup is cutting 50 trading employees.
Salesforce cut fewer than 1,000 employees on Monday, a source familiar with the move told CNBC, and it’s reportedly planning to lay off roughly 2,500 of the company’s 72,223 employees
Chime Online financial services company will lay off 12% of its staff, with the cuts expected to affect 160 of the company’s 1,300 employees.
Stripe announced plans to cut 14% of its workforce as the online financial services company contends with “stubborn inflation.
Billionaire Elon Musk reportedly plans to cut roughly 50% of Twitter’s 7,500 employees, multiple outlets reported Thursday.
Microsoft’s cuts will affect less than 1% of its 180,000 workers, a spokesperson told CNBC, three months after the Redmond, Wash.-based tech company announced it would slash another 1% of its workforce, with the cuts coming in the company’s modern life experiences team
Google In a similar move, also alerted about 50 employees—roughly half of those employed at the firm’s startup incubator Area 120—they need to find a new internal role within three months if they want to stay at Google, the Journal reported.
Warner Bros. Discovery, which formed in a merger between the two production giants in April, could reportedly cut “hundreds” of ad sales employees from the WarnerMedia and Discovery sides of the company.
Snap, the California-based developer of mobile app Snapchat, announced plans to lay off more than 1,200 employees (roughly 20% of its staff), in its second round of job cuts this summer
Snap CEO Evan Spiegel announced in a company memo that the company will lay off 20% of its than 6,400 workers (1,280 employees)
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